How is transmission of shares done in Nigeria?

How is transmission of shares done in Nigeria?

May 06, 2019

Transmission of shares is when the shares of a deceased shareholder in company is transferred to a personal representative or beneficiary of the deceased share holder.

The beneficiary applies to get probate (where there is a Will) or a Letter of Administration as the case may be to deal with the shares of the deceased and after obtaining probate or the Letter of Administration, the beneficiary then applies to the company informing them of his/her intention to hold the shares in his/her name or to transfer such shares to a third party. Such application must be accompanied with the following documents;

  1.  A copy of the Death Certificate of the decreased shareholder.
  2. A copy of the probate letter or Letter of Administration.
  3. The shareholding certificate of the deceased.

Finally, after making such application, a new certificate will be issued to the beneficiary or personal representatives of the deceased shareholder.

 

 

 

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 attached

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.

  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.

  • What will happen if I buy the wrong category of forms with NAFDAC?

    Nothing, the purchased form will be in your account for future use.

     

  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.

  • When registered, how long does a patent last for?

    Once granted, a patent is valid for 20 years.

  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office

  • How many directors do I need to start a company?

    A minimum number of two (2) directors is required to form a company.

  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

Call Us Now on +234 901 719 0079 Whatsapp icon Chat on WhatsApp