With respect to FORM CAC 2
(Statement of Share Capital and Return of Allotment of Shares), note instances
where shares are paid for in consideration other than cash and where the unit
value per share is not N1.00K.
Under the aspect of
‘statement of share capital’; share capital is written in words and in figures;
but ‘No. of Share Division’ is written in words; including the type of shares;
while value per unit of share is in figures.
Under ‘Return of Allotment
of Shares’ aspect; ‘Number of shares allotted payable in cash’ is written in
figures indicative of the type of shares, ‘Nominal amount of shares so
allotted’ is in Naira and in figures (the formula is unit value per share
multiplied by No. of shares allotted payable in cash); ‘Amount paid or due
payable on each share is the unit value per share in figures”.
‘Number of shares
allotted’ for consideration other than cash is in figures (use the formula for
% or ratio as appropriate, depending on the scenario).
For clarity use the
following formula for ratio and percentage:
(a) For
Ratio = Ratio x Authorized
share capital
Total Ratio 1
(b) For percentage = Percentage
x Authorized share capital
100 1
‘Amount to be treated as
paid on each share’ may be the unit value per share given in figure and then
the consideration is in words (fill “NIL” where appropriate). Remember to fill
the aspect of “presented for filing by”. Leave “Company Number” blank.
For Inc. Trustees Form,
repeat the name of the association as appropriate in the Memorandum for
Guidance of Applicants. Remember to make an impression of the common seal.
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