Transfer, Transmission, Surrender & Allotment of Shares

NGN20,000.00

File Share Transfer, Transmission, Surrender & Allotment with CAC

Update your company’s shareholding structure with the Corporate Affairs Commission (CAC). Whether transferring ownership, ensuring legal succession, surrendering shares, or issuing new ones, let SplashDict’s CAC-accredited experts manage the entire process seamlessly for you.

Filing of Share Transfer, Transmission, Surrender, or Allotment with CAC.
All CAC filing fees included—no extra charges.
Receive an Updated CAC Status Report reflecting the changes.
Quick Turnaround: Processing time of 2 to 10 business days.

NGN20,000.00

Key Features of Transfer, Transmission, Surrender & Allotment of Shares

Share Transfer: A voluntary act where a shareholder (transferor) intentionally transfers ownership of shares to another party (transferee) through a contractual agreement such as a sale, gift, or divorce settlement.
Deliberate Action: Unlike transmission, share transfer is a conscious decision made by the shareholder and not triggered by law.
Transferability: Freely transferable in public companies unless restricted, while private companies are subject to pre-emptive rights or the Articles of Association.
Purpose & Flexibility: Used for sales, gifts, or ownership restructuring, enabling wealth transfer, tax planning, or corporate restructuring.
Share Transmission: An automatic transfer of shares that occurs by operation of law due to death, insolvency, or company liquidation, passing ownership to legal heirs or successors.
No Shareholder Action Required: Unlike transfer, share transmission does not require shareholder intervention, a contract, or a transfer deed but is executed based on proof of entitlement, such as a death certificate.
Seamless Ownership Transition: Ensures continuity of ownership without requiring any deliberate action from the original shareholder.
Share Surrender: A voluntary act where a shareholder returns shares to the issuing company, relinquishing ownership and future liabilities except for past obligations.
Ownership Reduction: Unlike transfer, surrendered shares go back to the company rather than another individual, and unlike allotment, it reduces rather than increases shares.
Exit Without Sale: Share surrender is an option for shareholders who no longer wish to hold shares without selling them.
Simplification of Share Structure: Helps streamline ownership by reducing the number of shares in circulation, subject to the company's Articles of Association.
Share Allotment: The issuance of new shares by a company to existing or new shareholders during incorporation or capital expansion.
Creation of New Shares: Unlike transfer or transmission, share allotment results in new shares being issued rather than existing ones changing hands.
Ownership Expansion: Unlike surrender, it increases ownership by adding new shareholders or issuing more shares to existing ones.
Capital Raising & Rewards: Used by companies to raise funds, improve liquidity, or reward shareholders through bonus shares or asset-based allocations.

Requirements for Filing Transfer, Transmission, Surrender & Allotment of Shares with CAC

Company Details: Provide the company's name, RC number, and other identification details.
Board or Company Resolution: A signed resolution by directors or authorized officers approving the action (required for Transfer, Surrender, and Allotment; optional for Transmission unless specified by company policy).
Means of Identification for Individuals: Valid ID (e.g., National ID, Passport, Driver’s License) for individuals involved (e.g., transferor, transferee, surrendering shareholder, or allotted).
Evidence of Registration for Corporate Entities: Certificate of Incorporation or equivalent, including CAC Registration Number for corporate transferees, allottees, or foreign companies.
Share Transfer Details: Includes the class of shares, number of shares being transferred, and consideration (if any).
Transferee Details (Individual): Full name, contact details, nationality, service address, and occupation of the new shareholder.
Transferee Details (Corporate/Foreign Corporate): Company name, RC number, contact details, service address, and authorized representative details for corporate transferees.
Share Transmission Details: Includes the type of transmission (e.g., due to death, insolvency, or liquidation), details of the deceased or outgoing shareholder, and legal proof of entitlement (e.g., Death Certificate, Probate, Letter of Administration, or Court Order).
Beneficiary Details (Existing Shareholder): Name and shareholding details of an existing shareholder receiving the transmitted shares.
Beneficiary Details (New Individual Shareholder): Personal information, nationality, service address, and identification documents for an individual inheriting or receiving shares via transmission.
Share Surrender Details: Includes details of the shareholder relinquishing shares, the class and number of shares surrendered, and the reason for surrender.
Company Receiving Shares (For Surrendered Shares): If shares are surrendered, details of the company receiving them, including company name and RC number, must be provided.
Share Allotment Details: Includes the class and number of new shares being issued, the consideration (cash or non-cash), and the purpose of the allotment.
Statement of Issued Share Capital: Reflects the company’s updated share structure after any transfer, transmission, surrender, or allotment.
Valuation Report (If Applicable): Required for public companies issuing shares for non-cash consideration.
Authorization: The application must be signed by the company's directors, secretary, or an authorized representative.
Authorization: The application must be signed by the company's directors, secretary, or an authorized representative.

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Benefits of Filing Transfer, Transmission, Surrender & Allotment of Shares

Legal Ownership Clarity: Ensures proper documentation of share transactions, preventing future disputes over ownership.
Compliance with CAC Regulations: Keeps the company’s records up to date with the Corporate Affairs Commission (CAC), ensuring compliance with legal requirements.
Seamless Ownership Transitions: Facilitates smooth transitions in cases of inheritance, shareholder exits, or corporate restructuring.
Flexibility in Shareholding Structure: Allows companies to adjust their capital structure by issuing new shares, transferring ownership, or surrendering shares.
Exit Strategy for Shareholders: Provides a structured way for shareholders to divest from the company through share transfer or surrender.
Efficient Corporate Restructuring: Supports mergers, acquisitions, or internal restructuring by enabling the seamless redistribution of shares.
Updated Company Records: Ensures that official company documents reflect current shareholders, making regulatory filings, banking transactions, and investor relations smoother.
Capital Growth Opportunities: Enables companies to raise funds through share allotment, bringing in new investors or rewarding existing shareholders.

Company Post-Incorporation

File Transfer, Transmission, Surrender & Allotment of Shares with CAC

Here's how SplashDict's CAC-accredited Chartered Secretaries can assist you:

Application Filing: We handle the submission of your application for Share Transfer, Transmission, Surrender, or Allotment with the Corporate Affairs Commission (CAC).
Documentation: We handle all Filing documents.
Transparent Pricing: CAC filing fees are included with no hidden charges.
Quick Turnaround: Receive an updated CAC Status Report reflecting the share changes within 2 to 10 business days.
Continuous Support: We assist with future compliance and statutory needs.