2025-0104
Kestrel Analytics Ltd — shareholders agreement and share issue
OpenCommercial·Kestrel Analytics Ltd·Opened 22 Apr 2026
Background
Drafting a shareholders agreement and articles amendment for a seed funding round. Four founders and one institutional investor. Includes drag-along, tag-along, good and bad leaver provisions.
File note
Investor counsel has proposed an amended drag threshold of 60%. Founders instructed to hold at 75%. Awaiting revised turn from Latimer Croft.
Key dates
2 recorded| Date | Event | Type | Due |
|---|---|---|---|
| 22 Sept 2026 | Completion of funding round (target) | Completion | in 11 days |
| 06 Oct 2026 | SH01 return of allotment to Companies House One month from allotment. | Filing deadline | in 4 weeks |
Tasks
2 open · 0 completed| Task | Assigned | Due | Priority | Status | |
|---|---|---|---|---|---|
Review revised turn of shareholders agreement from Latimer Croft | DV | in 6 days | Medium | Not started | |
File SH01 return of allotment at Companies House | SM | in 3 weeks | High | Not started |
Time recorded
6h 48m total · 6h billable · £1,637.50| Date | Fee earner | Narrative | Activity | Units | Value | Billed |
|---|---|---|---|---|---|---|
| 10 Sept 2026 | TO | Considering warranty limitations and advising in writing | Telephone | 1 · 6m | £19.50 | WIP |
| 09 Sept 2026 | DV | Attendance on client regarding drag-along threshold | Telephone | 4 · 24m | — | Non-billable |
| 04 Sept 2026 | DV | Preparing board and shareholder resolutions | Research | 2 · 12m | £62.00 | WIP |
| 28 Aug 2026 | DV | Reviewing the disclosure letter | Research | 2 · 12m | £62.00 | WIP |
| 26 Aug 2026 | PR | Reviewing the disclosure letter | Drafting | 2 · 12m | — | Non-billable |
| 11 Aug 2026 | DV | Reviewing the disclosure letter | Telephone | 15 · 1h 30m | £465.00 | WIP |
| 07 Aug 2026 | DV | Attendance on client regarding drag-along threshold | Letter in | 2 · 12m | £62.00 | WIP |
| 03 Aug 2026 | DV | Attendance on client regarding drag-along threshold | Letter out | 5 · 30m | £155.00 | WIP |
| 27 Jul 2026 | DV | Considering warranty limitations and advising in writing | Drafting | 3 · 18m | £93.00 | WIP |
| 21 Jul 2026 | DV | Drafting shareholders agreement — leaver provisions | Telephone | 12 · 1h 12m | £372.00 | WIP |
| 13 Jul 2026 | EF | Reviewing investor counsel amendments and preparing a mark-up | Letter in | 10 · 1h | £125.00 | WIP |
| 28 May 2026 | DV | Attendance on client regarding drag-along threshold | Letter out | 4 · 24m | £124.00 | WIP |
| 28 May 2026 | DV | Drafting shareholders agreement — leaver provisions | Telephone | 2 · 12m | — | Non-billable |
| 22 May 2026 | PR | Attendance on client regarding drag-along threshold | Research | 4 · 24m | £98.00 | WIP |
Disbursements
Money paid out on the client behalf, billed at cost| Date | Description | VAT | Paid out | Amount | Billed |
|---|---|---|---|---|---|
| 03 Jun 2026 | Companies House filing fees | Outside scope | Paid | £34.00 | Unbilled |
Documents
6 on file| Document | Type | Ver. | Filed by | Filed | Size | |
|---|---|---|---|---|---|---|
| Investor mark-up — Latimer Croft.docx | Correspondence in | v1 | DV | 07 Sept 2026 | 1.1 MB | Download |
| Board minutes — allotment.docx | Court document | v1 | DV | 18 Jul 2026 | 1.8 MB | Download |
| Disclosure letter (draft 2).docx | Contract | v3 | DV | 13 Jul 2026 | 3.7 MB | Download |
| Shareholders agreement (draft 4).docx | Contract | v2 | DV | 10 Jun 2026 | 918 KB | Download |
| Client care letter and terms of business.pdf | Client care letter | v1 | DV | 26 May 2026 | 906 KB | Download |
| Articles of association — amended.docx | Contract | v1 | DV | 25 Apr 2026 | 3.2 MB | Download |
Bills
| Bill | Issued | Due | Profit costs | Disb. | Total | Outstanding | Status |
|---|---|---|---|---|---|---|---|
| INV-2025-0438 | 12 Jul 2026 | 11 Aug 2026 | £5,400.00 | £34.00 | £6,514.00 | — | Paid |