A Board Resolution For Subscribing Shares Of Other Company is a crucial corporate document required under UAE law when a company intends to invest in another company through share subscription. This document is essential for demonstrating proper corporate governance and compliance with UAE Federal Law No. 32 of 2021 (Commercial Companies Law). It is typically used when a company wants to make strategic investments, enter new markets, or form strategic alliances through share ownership. The resolution must be properly documented and maintained in the company's records, containing specific details about the investment decision, including the number of shares, subscription price, and authorization for executing related documents. It serves as evidence of the board's informed decision-making process and protects both the company and its directors in terms of corporate liability and governance requirements under UAE law.
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1. Meeting Details: Date, time, location of the board meeting, and attendance details
2. Quorum Confirmation: Confirmation that the required quorum was present as per the company's Articles of Association
3. Chairman: Identification of the meeting's chairman
4. Background: Brief context about the investment opportunity and rationale for share subscription
5. Authority and Compliance: Statement confirming the board's authority to make the decision and compliance with UAE law and company's AOA
6. Resolution Details: Specific details of the share subscription including number of shares, price, and target company details
7. Payment Terms: Details of how and when the subscription amount will be paid
8. Authorization: Designation of authorized signatories to execute the subscription and related documents
9. Certification: Certification of the resolution by the Chairman/Company Secretary
1. Conflicts of Interest: Required if any board member has a conflict of interest in the target company
2. Regulatory Approvals: Include if the subscription requires specific regulatory approvals
3. Financing Arrangements: Include if the subscription will be financed through external sources
4. Risk Assessment: Include if a formal risk assessment of the investment needs to be documented
5. Special Conditions: Include if there are any special conditions or prerequisites for the subscription
6. Related Party Transaction: Required if the share subscription constitutes a related party transaction
1. Share Subscription Agreement: Draft or final version of the share subscription agreement to be executed
2. Target Company Information: Key information about the target company including corporate and financial details
3. Valuation Report: Summary or full version of any valuation report relied upon
4. Due Diligence Summary: Summary of key findings from due diligence if conducted
5. Board Attendance Register: Detailed record of board members present, absent, and mode of attendance
6. Legal Opinion: Any legal opinions obtained regarding the subscription
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