A company’s share capital is essentially a representation of its ownership. When companies issue shares for people to purchase, they essentially transfer a part of the company’s ownership to them. When people purchase shares, they are issued share certificates. This is a document which certifies that a person has purchased a certain number of shares of the company, and serves the function of being a legally enforceable document that is proof of ownership of the shares.
Corporate organisations publish share certificate notices whenever any announcement is made which pertains to their share capital. These announcements include an issue of shares, a further issue of shares, a buyback of shares or a payout of dividend.
However, as regards shareholders, the share certificates are extremely important documents as they are worth the portion of the company that they have purchased and will be earning dividends on. They are a certification of registered ownership of the shares purchased from the date of purchase.
Share certificates typically contain the following information:
- The name and registration number of the company
- The certificate number
- The name of the shareholder
- The address of the shareholder
- The number of shares owned by the shareholder
- The class of shares
- The date of issue of the shares
- The amount paid (or treated as paid) on the shares
Therefore, it becomes apparent why share certificates are extremely important documents, and misplacing them can cause immense distress and frustration to the holder.
But, as human beings are prone to doing, misplacing share certificates may well happen at some point or the other. In such a case, obtaining a duplicate share certificate as early as possible becomes imperative, and in order to do this, the holder of the share certificate needs to file an FIR at a local police station and publish a loss of share certificate advertisement in a newspaper. This advertisement needs to clearly state that the share certificates have been misplaced, as well as the particulars of the misplaced share certificates such that the issuance of duplicate share certificates can be facilitated.
It can also be said that the publication of a loss of share certificate ad in a newspaper fulfils the legal requirement which is a prerequisite for the issue of a duplicate. This ad informs the public as well as the organisation of the misplaced share certificates.
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