Transmission of shares

Transmission of shares

October 19, 2018

 

Transmission of shares occurs by operation of law i.e when a shareholder dies or becomes bankrupt or mentally unstable and his share title is transferred.

Procedure for transmission of shares;

  • The Personal representatives of the shareholder will obtain probate/Letters of Administration from the probate registry
  • Notification of intention to either be member or transfer the shares to another person will be sent to the company attaching the following;
  • A copy of the Death Certificate of the deceased shareholder.
  • A copy of the probate or Letters of Administration.
  • Original shares certificate of the deceased shareholder.
  • A new certificate will be issued to the personal representatives of the deceased.

For Further inquiries;

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The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attach

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