Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Resolution For Shares Consolidation In Travis
State:
Multi-State
County:
Travis
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Consolidation of shares is a corporate action where a company reduces the number of outstanding shares by combining the shares and increasing the face value. This is also known as a reverse stock split. The company notifies the shareholders through email before the stock consolidation.
For some companies, the existing shareholders may also need to pass a special resolution to waive their right to pre-emption on the transfer of shares. When the transfer is complete, the director(s) must provide a copy of the stock transfer form to the transferor and transferee.
A Shareholders' Resolution to Issue Shares is a resolution to be passed by the shareholders of a company to approve the allotment and issue of new shares. This document may be used for the issue of ordinary shares or preference shares.
If a company wishes to issue additional shares to a new shareholder, all existing shareholders within the company must pass a special board resolution to that effect.