Board Minutes to Redenominate Shares (s.622)

These board minutes may be used by a company where it wishes to pass an ordinary resolution to authorise a redenomination of either its entire share capital or a class of its shares from one currency to another in accordance with section 622 of the Companies Act 2006.

What the board minutes record

• The board proposes the redenomination of share capital.
• The proposed redenomination must then be approved by shareholders by ordinary resolution.

Exchange rate requirement under section 622

Section 622 requires conversion at a spot rate of exchange determined between two currencies.

This template includes a proposed conversion from £ sterling to € (Euros) for illustrative purposes and should be adjusted accordingly.

Shareholder approval route

The minutes should be amended depending on whether shareholder approval by ordinary resolution is obtained by written resolution or at a general meeting.

The relevant provisions must be consistent with each other.

Company type

These minutes are designed to be used by a private limited company.

Board Minutes to Redenominate Shares (s.622) is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.