Issue, Transfer & Allotment of Shares: New Content
The issue and transfer of shares are key administrative processes for any private company. Shares are created and issued by a company at the start of its life and then subsequently to raise share capital or introduce new shareholders. A share transfer involves existing (already in issue) shares being transferred from an existing shareholder to someone else. This can only take place after a company has been formed.
The issue and transfer of shares are more complex processes than is often expected. We have therefore added to our portfolio of templates in this area in order to help you navigate this often tricky administrative process.
Our new material added includes:
• A Guidance Note on Issuing and Transferring Shares;
• An Allotment of Shares Checklist;
• Board Minutes to approve the issue & allotment of shares where shareholder approval is required in relation to the proposed allotment;
• A letter of waiver of pre-emption rights as an alternative to seeking a shareholder resolution to dis-apply pre-emption rights; and
• The relevant shareholder resolutions necessary to issue redeemable shares.
This re-worked sub-folder of template documents, Issue, Transfer & Allotment of Shares, should enable you as a company director, secretary or administrator to confidently tackle the process of issuing new shares and if required, subsequently transferring them.
The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.