The Allotment of Shares Board Resolution is a fundamental corporate document used in Australian business practice when a company decides to issue new shares. This document is required under the Corporations Act 2001 (Cth) to formally record the board's decision and ensure proper corporate governance. It is typically used during capital raising activities, employee share schemes, strategic investments, or when bringing new shareholders into the company. The resolution must include specific details about the share issuance, such as share class, price, recipient details, and confirmation of compliance with legal requirements and the company's constitution. As a key corporate governance document, it serves as official evidence of the board's authorization and forms part of the company's permanent records, with copies often required for ASIC filings and corporate record-keeping.
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1. Title and Meeting Details: Specifies the company name, ACN, date, time, location of meeting, and type of meeting
2. Attendance and Quorum: Lists directors present, apologies, and confirmation of meeting quorum as per constitution
3. Chairperson: Records who was appointed as chairperson of the meeting
4. Declaration of Interest: Directors' declarations of any interests in the share allotment
5. Background: Context of the share allotment including reference to any prior approvals or agreements
6. Share Allotment Details: Specific details of shares to be allotted including number, class, price, and recipient details
7. Consideration: Details of the consideration being provided for the shares
8. Compliance Statement: Confirmation of compliance with Corporations Act, constitution, and other relevant regulations
9. Resolution: The formal resolution text for the share allotment
10. Closing and Authentication: Meeting closure time and signature section for chairperson
1. Pre-emptive Rights Waiver: Required when existing shareholders have waived their pre-emptive rights
2. Foreign Investment Approval: Required when shares are being allotted to foreign investors
3. Share Certificate Instructions: Include when physical share certificates are to be issued
4. ASIC Lodgment Details: Specific instructions regarding ASIC form lodgment and timing
5. Special Conditions: Any special conditions attached to the share allotment
6. Authorization for Electronic Lodgment: Required when using electronic lodgment of forms with ASIC
1. Schedule A - Share Allotment Details: Detailed table of share recipients, share numbers, and consideration
2. Schedule B - Share Certificate Template: Template of share certificates to be issued
3. Schedule C - Shareholder Details: Complete details of new shareholders including required ASIC information
4. Appendix 1 - Application Forms: Copies of share application forms received
5. Appendix 2 - Supporting Documents: Any relevant supporting documents such as valuations or FIRB approvals
Relevant legal definitions
Clauses
Meeting Details
Attendance and Quorum
Chairperson Appointment
Directors' Interests
Background and Context
Share Allotment
Consideration
Statutory Compliance
Constitutional Compliance
Share Rights and Restrictions
Pre-emptive Rights
Registration and Certificates
Regulatory Filings
Implementation Authority
Authentication
Attendance and Quorum
Chairperson Appointment
Directors' Interests
Background and Context
Share Allotment
Consideration
Statutory Compliance
Constitutional Compliance
Share Rights and Restrictions
Pre-emptive Rights
Registration and Certificates
Regulatory Filings
Implementation Authority
Authentication
Relevant Industries
Financial Services
Technology
Mining and Resources
Healthcare
Real Estate
Manufacturing
Retail
Professional Services
Agriculture
Energy
Telecommunications
Construction
Transport and Logistics
Relevant Teams
Legal
Corporate Governance
Company Secretariat
Board of Directors
Finance
Compliance
Share Registry
Corporate Advisory
Investment Relations
Relevant Roles
Company Secretary
Board Director
Chief Executive Officer
Chief Financial Officer
Corporate Lawyer
Legal Counsel
Compliance Officer
Corporate Governance Manager
Share Registry Manager
Investment Relations Manager
Finance Director
Managing Director
Board Chairman
Corporate Advisory Manager
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