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Circular Resolution Of Shareholders

Circular Resolution Of Shareholders Template for Saudi Arabia

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Key Requirements PROMPT example:

Circular Resolution Of Shareholders

"I need a Circular Resolution of Shareholders for our Saudi LLC to approve the appointment of a new CEO and increase the company's share capital by SAR 5 million, to be completed by March 15, 2025."

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Document background
The Circular Resolution Of Shareholders is a crucial corporate governance tool in Saudi Arabia that allows companies to obtain shareholder approval for various corporate actions without the need to convene a physical meeting. This document type is particularly useful when immediate shareholder decisions are required or when organizing a physical meeting would be impractical. It must comply with the Saudi Companies Law 2015, Ministry of Commerce regulations, and where applicable, Capital Market Authority requirements. The document typically includes details of the resolution(s), shareholder information, voting results, and necessary supporting documentation. It's commonly used for routine corporate matters but can also address significant corporate actions, provided they meet legal requirements for circular resolutions under Saudi law.
Suggested Sections

1. Company Information: Legal name of the company, commercial registration number, and registered office address

2. Date: Date of the circular resolution

3. Shareholder Details: List of all shareholders with their respective shareholding percentages

4. Resolution Context: Brief background explaining why the resolution is needed and reference to relevant articles of association

5. Proposed Resolution(s): Clear statement of the resolution(s) being proposed for shareholder approval

6. Confirmation of Quorum: Statement confirming that the shareholders representing required percentage of shares have participated

7. Voting Results: Record of how each shareholder voted and the final outcome

8. Effectiveness: Statement of when the resolution becomes effective

9. Signature Block: Space for shareholders to sign or acknowledge the resolution

Optional Sections

1. Recitals: Additional background information when the resolution involves complex corporate actions or multiple related decisions

2. Conditions Precedent: Include when the resolution's effectiveness depends on certain conditions being met

3. Legal Opinion Reference: Reference to legal opinions obtained, if any complex legal matters are involved

4. Regulatory Approvals: Section listing required regulatory approvals when the resolution involves matters requiring regulatory consent

5. Notice Waiver: Waiver of notice requirements if applicable under the company's articles

Suggested Schedules

1. Shareholder Information Schedule: Detailed list of shareholders with full identification details and shareholding percentages

2. Supporting Documents: Copies of relevant documents referenced in the resolution

3. Power of Attorney: If any shareholders are acting through representatives, copies of relevant powers of attorney

4. Legal Opinions: Copies of any legal opinions obtained regarding the subject matter of the resolution

5. Company Documents: Relevant excerpts from articles of association or other company documents referenced in the resolution

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Manufacturing

Real Estate

Technology

Healthcare

Retail

Energy

Transportation

Construction

Professional Services

Telecommunications

Mining

Agriculture

Education

Relevant Teams

Legal

Corporate Governance

Company Secretariat

Compliance

Corporate Affairs

Board Administration

Shareholder Relations

Executive Office

Finance

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Corporate Governance Officer

Board Secretary

Compliance Officer

Chief Legal Officer

Corporate Affairs Manager

Shareholder Relations Manager

Board Director

Managing Director

Chief Financial Officer

Legal Director

Corporate Secretary

Industries





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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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