How to onboard a new shareholder?

Steps to onboard a new shareholder

  1. If your company intends to increase the paid-up capital, please provide us the following information:
    • Name of allottee
    • Number of shares to be allotted
    • Price to be allotted
    • Copy of bank statements/remittance advice showing the funds have been deposited to the company’s account.

    We will also require the following information if there is a new shareholder:
    • Salutation
    • Full Name
    • Email Address
    • Phone Number (with country code)

    Upon receipt of the above information, we will send the invite to the new shareholders to upload the supporting documents, NRIC or passport and proof of residential address of the beneficial owner (within 3 months) on Sleek platform.
  2. Sleek team will prepare and send the following documents for signature. The documents will be signed through SleekSign. You may refer to this article on how to SleekSign a document.

General list of Documents (documents may vary depending on company):

  • Directors’ resolutions to amongst others, approve entry into agreement(s) and convene EGM to authorise directors to issue new shares (to be signed by the directors)
  • Notice of EGM (to be signed by one director)
  • Consent to Short Notice (if less than 14 days notice for the EGM is given) (to be signed by all members)
  • Minutes of EGM (to be signed by members)
  • Attachment to Notice of Resolution (to be signed by a director)
  • Directors’ resolution to allot new shares and authorise the issuance of share certificates (to be signed by directors)
  • Letter(s) of application for shares, Letter(s) to capitalise loan, Letter(s) of waiver of pre-emption (If applicable) (to be signed by respective members)
  1. Sleek team will file the Notice of Resolution with ACRA (within 14 days from the date of resolution)
  2. Sleek team will file the Allotment of Shares with ACRA.
    Note that all KYC documents and proof of remittance (if applicable) have to be provided to Sleek prior to the filing.
  3. Sleek team will assist in issuance of Share Certificates to new Shareholders and updating of relevant registers.
You may wish to obtain a lawyer’s advice if you require more advice on the capital structure and/or most appropriate capital increase method for your company.

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