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Allotment of shares

Allotment of shares in Singapore

According to Companies Act, Allotment of shares is a procedure of creating and issuing shares, either for new or existing shareholders. To initiate the process, the directors must get the existing shareholders’ approval at a general meeting.

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Company stampS$60A company stamp (company seal) is used to validate official documents, like contracts, certificates, deeds, etc. Company seals contain the name and registration number of the company. As of 2017, it is not obligatory to use them in Singapore, though it is still a common practice. Your company secretary is in charge of keeping and using it.
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Striking off a companyS$400Striking off means closing down a local company. If the company is no longer doing business, an application should be made to the Accounting and Corporate Regulatory Authority to strike the company’s name off the Companies Register.

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FAQ

What is the share allotment procedure?
There are four things the secretary will address before the allotment:
- The general meeting-related papers: Directors’ Resolutions in Writing to convene the EGM, Notice of EGM, Proxy Forms (if necessary), Attendance List, Minutes of EGM
- Directors’ Resolutions in Writing noting the issuance and allotment of shares
- Lodgment with ACRA
- Preparation of new Share Certificate(s)
After the new Share Certificates have been issued, the company secretary will update the company’s register of allotments and register of shareholders.
What meeting does a company convene if there are shares to allot?
This subject may be on the agenda of an Annual General Meeting. If the members’ approval is required some time before or after the AGM, the company may hold an Extraordinary General Meeting. Depending on the composition of the company’s shareholders, different documentation will be prepared to hold the EGM.

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Allotment of shares in Singapore

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FAQ

What is the share allotment procedure?

What meeting does a company convene if there are shares to allot?