You are a trainee solicitor at Ulaws LLP, of 1 High Street, Cheston, CH4 1TS. You have received the attached email and documents from Simon Dexter, your supervisor. Carry out the instructions set out in Simon’s email.
To: [You]From: Simon Dexter (Simon.Dexter@ulaws.com)
Sent: 4 January 2021
Subject: Outdoor Dreams Limited (ref 15962.45)
We have been instructed by Outdoor Dreams Limited (‘the Company’). The Company is a garden centre which has diversified into outdoor furniture, hot tubs and garden design. It has also enjoyed a lot of success by running classes in horticulture, garden design, flower arranging etc. A Company information sheet is attached as Document
The Company has agreed to buy Celia Vickers’ business, Radagast Woodcarvery (‘RW’). Celia set up her business as a sole trader 5 years ago, offering wood carving tuition. The directors feel that RW will be a good fit with the Company’s existing operations. RW is valued at £150,000 and the Company will offer Celia 25,000 ordinary £1 shares (each worth £5) and 5,000 £5 cumulative non-participating 5% preference shares, in return for the business.