Issue of Shares at premium
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2011
A Shareholder Agreement has been entered into between a pvt co and its promotors. Is it necessary that AOA have to altered first and then shares allotted? Or Can shares be allotted first and then AOA amended?
Further, if shares have to be allotted at par and at premium, then can they be allotted in the same Board Meeting? Or should seperate BM be held for such allotment.
Pls clarify.
Further, if shares have to be allotted at par and at premium, then can they be allotted in the same Board Meeting? Or should seperate BM be held for such allotment.
Pls clarify.
01 March 2011
If the shares being alloted subsequent to Shareholder Agreement is within the Authorised Share Capital of the Company then shares can be alloted immediately and amendment of Articles can be done simultaneously or immediately thereafter.
However if the issue is beyond the Authorised Shares Capital of the Company, then first amend the MOA / AOA and then allot the shares.
However if the issue is beyond the Authorised Shares Capital of the Company, then first amend the MOA / AOA and then allot the shares.
01 March 2011
Share allotment, both at par and premium will be decided in a single Board Meeting. If shares are issued at premium, the premium amount have to be shown separately.
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