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Shareholders Resolution

Shareholders Resolution Template for Pakistan

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Key Requirements PROMPT example:

Shareholders Resolution

"I need a Shareholders Resolution for my Pakistani technology company to approve the issuance of 1 million new ordinary shares and appoint two new directors at our upcoming EGM scheduled for March 15, 2025."

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Document background
A Shareholders Resolution is a crucial corporate document used in Pakistani companies to formalize decisions made by shareholders. It is required under the Companies Act 2017 for various corporate actions, ranging from routine matters to significant company changes. The resolution must follow specific legal requirements regarding notice periods, voting thresholds (ordinary vs. special resolutions), and documentation. Depending on the nature of the decision, different types of Shareholders Resolutions may be needed - from simple majority resolutions for ordinary business to special resolutions requiring 75% approval for major changes. The document must be filed with the SECP and maintained in company records, with additional requirements applying to listed companies under stock exchange regulations.
Suggested Sections

1. Title and Company Details: Full legal name of company, registration number, and registered office address

2. Meeting Information: Date, time, venue/mode of meeting, and type of meeting (AGM, EGM, etc.)

3. Attendance and Quorum: List of shareholders present (in person or by proxy) and confirmation of quorum requirements being met

4. Notice and Compliance: Confirmation that proper notice was given and relevant legal requirements were met

5. Chairperson: Identification of the meeting's chairperson

6. Resolution Text: Clear statement of the resolution(s) being passed, indicating whether ordinary or special resolution

7. Voting Results: Record of votes cast for and against the resolution

8. Certification: Authentication by the Chairperson or Company Secretary confirming the resolution was duly passed

Optional Sections

1. Recitals/Background: Used when context or background information is needed to understand the resolution's purpose

2. Dividend Declaration Details: Required when the resolution involves dividend declaration, including amount and payment details

3. Share Related Provisions: Needed for resolutions involving share capital changes, new issue of shares, or share transfers

4. Director Related Provisions: Required for resolutions about appointment/removal of directors or changing their powers

5. Constitutional Changes: Used when the resolution involves amendments to company's articles or memorandum

6. Related Party Disclosures: Required when resolution involves transactions with related parties

7. Regulatory Compliance Statements: Special statements required for compliance with specific SECP regulations or stock exchange requirements

Suggested Schedules

1. Share Capital Structure: Details of existing and proposed share capital structure (for share-related resolutions)

2. Voting Record: Detailed breakdown of votes cast by each shareholder

3. Director Information: Biographical and qualification details of directors (for director-related resolutions)

4. Valuation Report: For resolutions involving asset sales, purchases, or share valuations

5. Legal Opinions: Any supporting legal opinions or regulatory clearances

6. Constitutional Amendments: Full text of proposed amendments to company constitution

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Manufacturing

Technology

Real Estate

Energy

Telecommunications

Healthcare

Retail

Construction

Mining

Agriculture

Transportation and Logistics

Professional Services

Education

Relevant Teams

Legal

Corporate Secretariat

Compliance

Corporate Affairs

Board Secretariat

Shareholder Relations

Risk Management

Corporate Governance

Investment Relations

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Board Director

Chief Financial Officer

Corporate Governance Officer

Shareholder Relations Manager

Risk Management Officer

Company Registrar

Corporate Affairs Manager

Board Chairman

Managing Director

Investment Relations Officer

Industries
Companies Act 2017: The primary legislation governing company formation, management, and operation in Pakistan, including procedures for shareholder meetings, resolutions, and corporate decision-making
Securities and Exchange Commission of Pakistan Act 1997: Establishes the SECP's authority and its role in regulating corporate sector and capital markets, including oversight of shareholder matters
Companies (General Provisions and Forms) Rules 2018: Provides detailed procedures and prescribed forms for various corporate actions, including the format and filing requirements for shareholder resolutions
Listed Companies (Code of Corporate Governance) Regulations 2019: Specific governance requirements for listed companies, including provisions related to shareholder rights and resolution procedures
Foreign Exchange Regulation Act 1947: Relevant for resolutions involving foreign shareholders or cross-border transactions requiring State Bank of Pakistan approval
Companies (Investment in Associated Companies or Associated Undertakings) Regulations 2017: Specific requirements for shareholder resolutions involving investments in associated companies or undertakings
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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