Tips & Notes
Main criteria of review for filing allotment of shares
The main criteria of review of the form HE12 are:
- company name and number;
- date of allotment of shares (one month prior the submission date, in case where the form is not submitted within one month a court order is required for time extension);
- available capital;
- full address details of and number of shares held by each shareholder;
- officer’s signature (in case where the officer is a company, the company seal is required);
- if the company is public, the allotment method must be clarified (private placement or invitation to subscribe;
- if the company is public and considerate is non-monetary, then an expert report is required.
Most common reasons for rejection of documents by the examiner:
- The form submitted is not the statutory form. The statutory forms are available on the webpage and at the offices of the Department;
- Failure to complete/submit the above details.
For further information regarding the relevant procedure, you are advised to refer to the page Updating Share Capital and Shareholders.