Good day.
I have a question regarding share certificates and transfers.
A few companies that I deal with have some issues with share certificates.
1. The original share certificate was issued to one of the directors in his capacity, but his shares were transferred to his family trust. The accountants who assisted with issuing the share certificates upon registration have copies of both the share certificates. The first certificate, which was in the director's name, does not show canceled on it. I believe that the first certificate will have to be canceled and the new certificate, which is in the name of the trust, will be the valid one. Am I right in saying this?
2. When transferring shares, like in the above situation, can the same distinctive share numbers be used? It is after all just a transfer of the same shares.
3. When transferring shares, like in the above situation, are there any compulsory transfer forms to be completed? Or do we just record the transfer on the share register?
4. A company was registered and share certificates were issued, but never signed. Originally there were 3 shareholders with 33.33% each. The company changed its name and there are now 4 shareholders. The directors want each of the shareholders to have 25% shares - how do we handle this and what needs to be done?
I would appreciate any help as I am trying to assist the companies to get their records, etc. in order.
Thank you
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