Service Overview
1.Conduct a Board Meeting:Call a board meeting to discuss and approve the proposed change in the authorized share capital. Pass a resolution approving the alteration of the authorized share capital. 2. Shareholder Approval: Call an Extraordinary General Meeting (EGM) to obtain approval from the shareholders for the alteration of the authorized share capital. Shareholders will need to pass a special resolution, usually requiring a higher majority vote.. 3. File Resolutions with Regulatory Authorities: Prepare the necessary resolutions and file them with the regulatory authorities, such as the Registrar of Companies (RoC). Submit the required forms and documents as per the regulatory guidelines.. 4. Amend Memorandum of Association (MoA): Amend the Memorandum of Association to reflect the change in authorized share capital. File the necessary documents, including the amended MoA, with the RoC.. 5. Receive Regulatory Approval: Obtain approval from the regulatory authorities for the change in authorized share capital. Compliance with regulatory requirements may vary depending on the jurisdiction..
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6. Issue Shares: After obtaining regulatory approval, the company can issue new shares based on the revised authorized share capital. Update the company's records and issue share certificates to shareholders.. 7. File Updated Documents: File the updated documents, including the amended MoA and any other required forms, with the regulatory authorities. Ensure compliance with all statutory filing requirements.. 8. Inform Stock Exchanges (if applicable): If the company is listed on stock exchanges, inform them about the change in authorized share capital. Comply with any additional requirements imposed by the stock exchanges.. 9. Update Company Records: Update the company's records, including the Register of Members, to reflect the changes in share capital. Ensure that the company's internal records are consistent with the regulatory filings.. 10. Communicate with Shareholders: Communicate the changes to shareholders, providing them with updated information about the share capital and any impact on their holdings. 11. Seek Professional Advice: Consider seeking professional advice from legal and financial experts to ensure compliance with all legal and regulatory requirements..
The adjusted authorized share capital provides us with the flexibility to embark on new ventures, pursue strategic investments, and adapt to the changing landscape of our industry. We believe that this modification reinforces our commitment to financial prudence and positions us for continued success. As always, our shareholders remain integral to our journey, and we are dedicated to ensuring that this adjustment contributes positively to the value and sustainability of our company.
