A Board Resolution For Sale of Shares is a crucial corporate document required under Malaysian law when a company's shares are being transferred or sold. This document demonstrates compliance with the Companies Act 2016 and the company's constitution, providing formal board approval for the share transfer. It's typically used when significant share transfers occur, requiring board oversight and approval. The resolution must detail the specific terms of the sale, including share quantities, prices, and parties involved, while ensuring all regulatory requirements are met. This document is particularly important in Malaysia's corporate governance framework as it provides a clear audit trail of the board's decision-making process and protects both the company's and shareholders' interests.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Company Details: Full legal name and registration number of the company
3. Present Directors: List of directors present at the meeting and confirmation of quorum
4. Chairperson: Identification of the chairperson of the meeting
5. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met
6. Background: Brief context of the proposed share sale transaction
7. Declaration of Interests: Directors' declarations of any interests in the transaction
8. Resolution Details: Specific details of the share sale including number of shares, price, and parties involved
9. Authority to Execute: Authorization for specific officers to execute necessary documents
10. Closure: Formal closure of the resolution including chairman's signature
1. Regulatory Compliance: Required when the share sale needs specific regulatory approvals or notifications
2. Pre-emptive Rights Waiver: Needed if existing shareholders have pre-emptive rights that need to be addressed
3. Conditions Precedent: Include when the share sale is subject to specific conditions being met
4. Related Party Transaction: Required when the sale involves related parties and specific disclosures are needed
5. Share Transfer Restrictions: Include when there are specific restrictions in the company constitution that need to be addressed
1. Share Sale Details: Detailed breakdown of shares being sold, including class, number, and price
2. Buyer Information: Details of the buyer(s) and their shareholding post-transaction
3. Company Constitution Extract: Relevant extracts from the company constitution regarding share transfers
4. Board Meeting Minutes: Copy of the full board meeting minutes where the resolution was passed
5. Supporting Documents: Any valuation reports, legal opinions, or other relevant documents supporting the transaction
Relevant legal definitions
Clauses
Meeting Details
Quorum Confirmation
Notice Compliance
Director Attendance
Share Sale Authorization
Transaction Terms
Price Approval
Transfer Authorization
Document Execution
Director Interests
Regulatory Compliance
Corporate Authority
Legal Requirements
Share Details
Execution Powers
Recording Requirements
Constitutional Compliance
Share Transfer Instructions
Administrative Matters
Certification
Quorum Confirmation
Notice Compliance
Director Attendance
Share Sale Authorization
Transaction Terms
Price Approval
Transfer Authorization
Document Execution
Director Interests
Regulatory Compliance
Corporate Authority
Legal Requirements
Share Details
Execution Powers
Recording Requirements
Constitutional Compliance
Share Transfer Instructions
Administrative Matters
Certification
Relevant Industries
Financial Services
Manufacturing
Technology
Real Estate
Healthcare
Retail
Energy
Telecommunications
Professional Services
Construction
Agriculture
Mining
Education
Transportation
Hospitality
Relevant Teams
Legal
Corporate Secretarial
Board of Directors
Corporate Governance
Compliance
Finance
Corporate Affairs
Investment
Risk Management
Executive Management
Relevant Roles
Chief Executive Officer
Company Secretary
Corporate Lawyer
Legal Counsel
Board Director
Chief Financial Officer
Compliance Officer
Corporate Governance Officer
Managing Director
Finance Director
Investment Manager
General Counsel
Board Chairman
Corporate Secretary
Legal Manager
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