Task:                     

[07.007-ADGM] - CORP SUPPORT # MAINTAIN SHARE CLASS DETAILS

Purpose:             

To be used by companies with share capital to update the details of its share class(es), i.e. amend the name of the share class or for variation of the rights attached to the class of shares.

Legal Entities:    

Companies

Questions:         

1) Do we have access to the client’s entity on the KOUNTED dashboard? If not, an ORS form needs to be filed first to gain access because only users with authority over the entity can file this request.


2) Does the company have a share capital?  


3) Does the company wish to edit the details of its share classes or amend the rights attached to them?

Pay Attention:   

1) This application is only relevant for companies that have an authorised share capital. It does not apply to Private Companies Limited by Guarantee and Private Company Unlimited without Shares.

                              

  2) If the company’s articles of association are amended due to the increase in the amount of authorized share capital, the notice of amendment of articles of association can also be filed along with this form and additional fees will apply.

                               

3) This application only allows the amendment of the details of existing share classes, but not to issue new share classes, please refer to [07.031-ADGM] - CORP SUPPORT # ADD A NEW CLASS OF SHARES in this case.

Submission:       

Online via the ADGM RA portal https://newreg.adgm.com/

Timeline:             

within one month from the amendment of the share class details, i.e. the resolution date

Timeframe:        

KOUNTED 2-3 working days for drafting including drafting the online application


ADGM: 3 -5 working days, but the ADGM RA reserves the right to return the application for revision/further clarification, which would increase the review timeline.

Supporting documents:

·         Resolution Approving new Share class name or variation of rights

attached to the class of shares (ADGM suggested formats provided)

·         Share Register (refer to ADGM register of members for the suggested format)

·         Amended Articles of Association, if applicable (note that model article template cannot be used for this purpose as it does not include any reference to share capital)

·         Special resolution approving the amendment of Articles of Association, if applicable

Applicable Legislation:  

                               

ADGM Commercial Licensing Regulations https://en.adgm.thomsonreuters.com/sites/default/files/net_file_store/ADGM1547_16481_VER20240401.pdf                               

KOUNTED Fees:

Please add the KOUNTED fees

ADGM Fees:      

USD 100/-

                               

Additional USD100/- if filing amendment of the Articles of Association is required.

Fines:                   

Failure to file the notice on time will result to a fine of: USD300 if not filed within one month

                               

If filing amendment of the Articles of Association is required: USD 300 fine if the submission is not made within the prescribed timeframe of 14 days.


LINKED FILES: