wazua Sat, Nov 23, 2024
Welcome Guest Search | Active Topics | Log In | Register

Company registration
Options
Previous Topic · Next Topic
254.co.ke
#1 Posted : Tuesday, April 21, 2015 6:52:32 AM
Rank: Member


Joined: 11/17/2006
Posts: 143
Hi all? When registering a limited company where the owners are let say 20 with equal number of shares....do you have to get all of them in the memorandums as Directors?
Back to top
 Report Abusive | Report SPAM
Lolest!
#2 Posted : Tuesday, April 21, 2015 8:52:50 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
No, a company needs only 2 directors
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
Back to top
 Report Abusive | Report SPAM
254.co.ke
#3 Posted : Wednesday, April 22, 2015 5:59:14 AM
Rank: Member


Joined: 11/17/2006
Posts: 143
Granted 2 is the MINIMUM number of directors required.The question is still unanswered, if the total number of owners are let say 20, how do the other 18 people 'lay claim of ownership' to the company?
Back to top
 Report Abusive | Report SPAM
Mart_Consult
#4 Posted : Wednesday, April 22, 2015 6:40:21 AM
Rank: Member


Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
254.co.ke wrote:
Granted 2 is the MINIMUM number of directors required.The question is still unanswered, if the total number of owners are let say 20, how do the other 18 people 'lay claim of ownership' to the company?


On Page 9, all (20) shareholders will sign showing their level of equity ownership in the entity while on page 16, a max of 7 Directors to sign in the MemArts

These 7 are the max allowed number of directors a private company can use for governance/strategic functions (basically Board functions) not matter the number of shareholders (who never exceed 50 in a private company)
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
Back to top
 Report Abusive | Report SPAM
mkenyan
#5 Posted : Wednesday, April 22, 2015 9:55:50 AM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,883
254.co.ke wrote:
Granted 2 is the MINIMUM number of directors required.The question is still unanswered, if the total number of owners are let say 20, how do the other 18 people 'lay claim of ownership' to the company?

ownership is with the shareholders not directors.
Back to top
 Report Abusive | Report SPAM
mkonomtupu
#6 Posted : Wednesday, April 22, 2015 10:01:18 AM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
254.co.ke wrote:
Hi all? When registering a limited company where the owners are let say 20 with equal number of shares....do you have to get all of them in the memorandums as Directors?


The memorandum and articles are for all the shareholders to sign. The shareholders are supposed to elect or nominate people who they want to be directors(directors don't even have to be shareholders). The number of directors is set out in the articles usually 2-7. Then you fill out the details of the directors in Form 203. Directors are responsible for the day to day management of the company and report to the shareholders at the AGM
Back to top
 Report Abusive | Report SPAM
Users browsing this topic
Guest
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua SME Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2024 Wazua.co.ke. All Rights Reserved.