About this document
What this document is
A board resolution used by a Kenyan company to formally approve the allotment and issue of shares to named allottees.
Purpose
This document records directors’ approval of a proposed share allotment, sets out the allotment terms and authorises updates, filings and share documentation.
Key components
- Company and meeting particulars identifying the company, directors and form of board approval
- Recitals confirming the proposed allotment and relevant corporate authority
- Approval of allotment stating the share class, number of shares, issue price and allottees
- Confirmation of consideration and conditions that must be satisfied before issue
- Authority to enter allottees in the register of members and issue supporting share documents
- Authority for company officers to make required regulatory filings and update company records
- General authority, ratification and effective-date provisions
- Director signature blocks evidencing adoption of the resolution
Document preview
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