... an inordinate amount of management time, which is particularly detrimental to smaller, owner managed companies. Main Body Minority Shareholder Protection Shareholders believe that their interests are being prejudiced by the way affairs of the company are being managed by the company's directors. Shareholders have right to petition the court to seek relief. The court has wide possible discretion in the matter. The most usual remedy however, is to order the purchase of the minority shares by the majority on a proportion of the value of all shares, without reduction because it is minority holding. Almost all petitions relate to companies within 10 or fewer members and one of the commonest allegations as a ground of 'unfair prejudice' is exclusion from management. Other examples of unfair prejudicial conduct as the following: • Removal as a director. • Payment of inadequate dividends. • Making a discriminatory rights issue of shares. • Diverting business opportunities away from the company. • taking ...

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