Directors and a share purchase

Merredy

Hi all - I hope you can help...

I have a new company with two directors. Both assume they are also shareholders - however one is not (I know the reasons behind this and it is an admin error) and in fact have both declared a "dividend" recently - which of course one cannot be.

I will be approaching them to discuss this and know that they will want 1 of the 2 issued shares to be bought by the 2nd director.

My question is what are the financial implications for each director personally? I know from a company point of view it makes little difference, but personally what happens to Director A who sells the share and Director B who buys it (I know they will want to do this for a nominal £1 if possible).

Thank you in advance for your comments