ABC Motors Company is a Limited Company. The company was incorporated under the Companies Act 2014 on the 31st of June 2018. The Company’s members are the three Shareholders, Abraham, Conlon, and Samantha, who are all good friends. The Company’s board of Directors is made up of one director named Joseph. On 01st December 2020 Samantha decided to sell her entire Shares in the business ABC Motors Limited to Eugene for €100,000. On the 15th of December 2020, Eugene purchased Samantha’s entire Shares in the company for €100,000.
Eugene’s purchase of shares from Samantha was very quick, informal, and done over the phone. The Director of ABC Motors Limited Joseph was not told about the Share transaction nor were the other shareholders i.e. Abraham and Conlon. Samantha tells Joseph that this does not matter as they are all “great friends” e.g. Abraham, Conlon, and Samantha including Eugene.