Process for Issuing New Shares in a Company

The Company can at any time to increase its issued capital or paid-up capital by allotting new shares to existing or new shareholders

Any request of allotment of new shares need to be approved by majority of existing shareholders. As such, an Extraordinary General Meeting (EGM) will be held to approve such motion..

Any request of allotment of new shares need to be approved by majority of existing shareholders. As such, an Extraordinary General Meeting (EGM) will be held to approve such motion..

The board of directors shall then be empowered or authorised by shareholders to allot new shares.

Preparation of Section 78 - Return Allotment of Shares.

It is important to ensure that the return of allotment is filed with the Registrar of Companies within 30 days of the allotment date. Failure to do so may result in penalties being imposed on the company and its officers. Additionally, the accuracy of the information provided in the return is crucial to ensure compliance with the Companies Act and to maintain the company's legal standing

Preparation of Section 51 - Register of Member

It is important to keep the register of members up-to-date and accurate to ensure compliance with the Companies Act. Any changes to the information recorded in the register should be made promptly and accurately. The register of members should be kept at the company's registered office or another location designated by the company's board of directors.