A Board Resolution For Sale Of Shares Of Subsidiary Company is a crucial corporate document required under Singapore law when a company intends to dispose of its shareholding in a subsidiary. This document demonstrates compliance with corporate governance requirements, the Companies Act, and the company's constitution. It typically includes details of the proposed transaction, purchase consideration, buyer information, and authorization for specific officers to execute the sale. This resolution is particularly important for maintaining proper corporate records and ensuring transparency in corporate actions.
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1. Title and Date: Company name, registration number, and date of resolution
2. Attendance: List of directors present and confirmation of quorum
3. Background: Context of the proposed sale and subsidiary details
4. Resolution Details: Specific terms of the sale including price, shares, and purchaser details
5. Authority: Authorization for specific officers to execute documents
1. Rationale: Business justification for the sale (used when documentation needs to show detailed decision-making process)
2. Conditions Precedent: Any conditions that must be met before sale completion (if applicable)
3. Related Party Disclosure: Required if sale involves related parties
1. Share Details Schedule: Details of shares being sold including class, number, and percentage
2. Subsidiary Information: Key details about the subsidiary company
3. Valuation Report Summary: If applicable, summary of independent valuation
4. Supporting Documents: List of relevant agreements, certificates, or other supporting documentation
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