2025-0104
Kestrel Analytics Ltd — shareholders agreement and share issue
OpenCommercial·Kestrel Analytics Ltd·Opened 09 Jun 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 |
|---|---|---|---|
| 09 Nov 2026 | Completion of funding round (target) | Completion | in 11 days |
| 23 Nov 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
10h 42m total · 8h 12m billable · £2,447.00| Date | Fee earner | Narrative | Activity | Units | Value | Billed |
|---|---|---|---|---|---|---|
| 23 Oct 2026 | DV | Considering warranty limitations and advising in writing | Research | 3 · 18m | £93.00 | WIP |
| 20 Oct 2026 | DV | Reviewing the disclosure letter | Attendance | 3 · 18m | £93.00 | WIP |
| 16 Oct 2026 | EF | Preparing board and shareholder resolutions | Letter in | 15 · 1h 30m | — | Non-billable |
| 15 Oct 2026 | DV | Considering warranty limitations and advising in writing | Drafting | 6 · 36m | £186.00 | WIP |
| 14 Oct 2026 | DV | Drafting shareholders agreement — leaver provisions | Letter in | 10 · 1h | £310.00 | WIP |
| 08 Oct 2026 | DV | Preparing board and shareholder resolutions | Letter out | 2 · 12m | £62.00 | WIP |
| 21 Sept 2026 | DV | Considering warranty limitations and advising in writing | Drafting | 4 · 24m | £124.00 | WIP |
| 21 Sept 2026 | DV | Attendance on client regarding drag-along threshold | Letter out | 12 · 1h 12m | £372.00 | WIP |
| 17 Sept 2026 | DV | Attendance on client regarding drag-along threshold | Telephone | 10 · 1h | £310.00 | WIP |
| 07 Sept 2026 | DV | Drafting shareholders agreement — leaver provisions | Telephone | 12 · 1h 12m | £372.00 | WIP |
| 31 Aug 2026 | DV | Preparing board and shareholder resolutions | Telephone | 10 · 1h | £310.00 | WIP |
| 13 Aug 2026 | DV | Reviewing the disclosure letter | Letter out | 2 · 12m | — | Non-billable |
| 10 Aug 2026 | TO | Attendance on client regarding drag-along threshold | Telephone | 6 · 36m | £117.00 | WIP |
| 24 Jul 2026 | DV | Reviewing investor counsel amendments and preparing a mark-up | Research | 8 · 48m | — | Non-billable |
| 09 Jul 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 |
|---|---|---|---|---|---|
| 21 Jul 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 | 23 Oct 2026 | 2.2 MB | Download |
| Board minutes — allotment.docx | Court document | v1 | DV | 11 Oct 2026 | 488 KB | Download |
| Articles of association — amended.docx | Contract | v1 | DV | 22 Sept 2026 | 1.4 MB | Download |
| Client care letter and terms of business.pdf | Client care letter | v1 | DV | 04 Sept 2026 | 1.8 MB | Download |
| Shareholders agreement (draft 4).docx | Contract | v3 | DV | 30 Aug 2026 | 3.7 MB | Download |
| Disclosure letter (draft 2).docx | Contract | v3 | DV | 14 Aug 2026 | 4.5 MB | Download |
Bills
| Bill | Issued | Due | Profit costs | Disb. | Total | Outstanding | Status |
|---|---|---|---|---|---|---|---|
| INV-2025-0438 | 29 Aug 2026 | 28 Sept 2026 | £5,400.00 | £34.00 | £6,514.00 | — | Paid |