I'm a director of a small company. I have been rewarded a 10% stake in the Company. The MD has 60%, Finance 20% and Another 10%.
I joined the company and helped recover it from the brink of closure to its current healthy state. We moved from Domestic Computers to Business Networks (my area of expertise).
The MD then bought the building for himself, leased it to the company and increased the lease fee's to cover the mortgage. I would have expected some kind of board meeting to tell everyone what was happening and I would have been more than happy with that. We had no formal meetings or minutes entered into the records.
The Finance directory was involved in contacting the previous landlord and involved in organizing the deal. I asked the MD about it and with a shrug of the shoulder was told he didn't think I'd be interested or had the funds to invest.....
It would have been nice to have been asked, I had the finances to do so. As you can imagine moral is pretty low. I have a very good relationship with the company and if i left thinks would fall apart, not because I'm good but because I'm the one with skills in this discipline (Computer Networking).
The company has been through hard times. We are all on minimum wage and more than happy to do so knowing that things will improve. BUT as the rent has gone up the wages won't change and the MD is going to charge the company for all internal improvement work to the business. Which has put a strain on cash-flow.
He is paying for the external extension work on his mortgage and of course that's' included in the lease fee's.
Can this happen without any input or objection from me as a Director? If the company goes under as a result of the strain on finance's were do I stand?
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