Question 1

What is a Directors Resolution for Issuing New Shares?

Accepted Answer

A Directors Resolution is a formal document recording the board of directors' decision to authorize the issue of new shares. Under the Companies Act, directors must formally approve share issues, and this resolution provides the required documentary evidence of that approval.

Question 2

Is this template compliant with South African law?

Accepted Answer

Yes, this template is drafted to comply with the Companies Act and includes all necessary elements for a valid board resolution authorizing a share issue, including proper recitals and resolutions.

Question 3

Can I customize this template?

Accepted Answer

Yes, the template can be edited to specify the number and class of shares being issued, the issue price, the subscriber details, and any special conditions attached to the share issue.

Question 4

What key elements are included in the template?

Accepted Answer

The template includes: recitals confirming authority to issue shares; resolution authorizing the specific share issue; details of shares being issued; authorization for directors to sign necessary documents; and signature blocks for directors.

Question 5

Who should use this template?

Accepted Answer

This template is essential for any company issuing new shares, whether as part of a capital raise, employee share scheme, or conversion of debt to equity. It's required before shares can be validly issued.

Question 6

What format is the template delivered in?

Accepted Answer

The template is delivered in Microsoft Word format (.docx), allowing you to customize the resolution details before the board meeting or round robin signature.

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Template Directors Resolution for the Issuing of NewShares