Shares, as we all know, are a portion of the share capital of a company. These shares represent the proportional ownership of the company, and, as such, the people who have purchased these shares, are owners of that portion of the company’s share capital.
By offering shares to the public to purchase them, companies raise capital. Through this process, people buy shares and essentially become legal owners of that portion of the company. And when shares are purchased by members of the public, they are issued share certificates.
A share certificate is a document that is a certification of a person’s legal and rightful ownership of a company’s shares. Such a document contains important information and clearly mentions the name of the holder and the number of shares that have been purchased by them. Share certificates are legally enforceable documents that serve the function of being a proof of ownership of the company’s shares.
Share certificate notices are published by companies whenever any announcement pertaining to share capital is made. These announcements may be related to an issue of shares, a further issue of shares, a buyback of shares, or a dividend payout.
Share certificates, however, are very important and valuable documents. This is because the share certificates are documentary evidence of the shares that a person owns. In other words, they are worth the portion of the company’s share capital that a person has purchased. Therefore, as these documents are proof of legal ownership of the company, they need to be kept carefully.
But, as it may happen from time to time, people tend to lose or misplace crucial documents, and share certificates are no exception. Misplacing a share certificate is bound to cause significant frustration and distress for the shareholder. When one misplaces or loses a share certificate, it becomes a top priority to immediately arrange for duplicate share certificates to be issued.
To facilitate this, a lost share certificate advertisement needs to be booked in a newspaper. Along with this, a person needs to book an FIR at a local police station. These are legal requirements, and this legal requirement is in place to ensure that people do not make fraudulent claims or take undue advantage.
Such an ad in a newspaper needs to clearly mention that the share certificates have been lost or misplaced, along with all important details. This will help to facilitate the issuance of duplicate share certificates from the company while also informing the public to keep an eye out for the missing share certificates, and, if located, to inform the rightful owner.
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