Printing of share certificates

victor (Manager Accounts) (42 Points)

03 February 2012  

Can anyone please tell me if Share Certificates that have to be printed for a new Company have to be in a particular order haveing particular series

For Ex: Company A -  has Rs 500000/- as its authorised capital, having face value as Rs 100/-, thus having 5000 shares in total-has 2 shareholders-Mr X & Mr Y-

1) Mr X owns 4999 shares and

2) Mr Y owns 1 share

The minutes of the 1st Meeting state that the there have to be 100 share certifcates maintained and printed

Hence 98 share certificates will be printed having 50 shares (bearing 1-50 as distinctive nos)= Totaling to 4900 Shares(98*50)

And the 99th Share certificate will be printed having 99 shares(bearing distinctive no-4901-4999-Owned by Mr X

And the 100th Share Certificate will be printed having 1 shares(bearing disctinctive no -5000)-Owned by Mr Y

Is this the right way of dividing the nos of shares?

Is it correct?