Share gives the holder, right to,

  • One vote at a meeting of the members of the company or on any resolution of the members of the company
  • An equal share in any dividend paid in accordance with this Act
  • To an equal share in the distribution of the surplus assets of the company

It is necessary to inform in the articles the circumstances in which the share certificates will be issued. To issue a share certificate, the certificates,

  • Shall be signed by at least one director of the company or by such other person who may be authorised by the memorandum or articles to sign share certificates; or
  • Shall be under the common seal of the company, with or without the signature

Shares that are not completely paid for can be forfeited according to the memorandum or articles. It will also contain a requirement that a written notice of call specifying a date for payment to be made shall be served on the member who fails in making payment in respect of the share. The directors may at any time forfeit or cancel the shares, if the requirements of the call notice hasn’t been complied to. A Stealth Offshore manager can provide the time duration and other specifications on the call notice.

Stealth can ensure that the bearer shares are transferred to:

  • A custodian who has agreed to hold the share
  • The company where the bearer share has to be or has been
    • Converted to, or exchanged for, a registered share or
    • Redeemed, purchased or otherwise acquired by the company or
    • Cancelled and forfeited
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