Legal details about Notessity shareholders.
Shareholder Rights
Notessity does not have distinct classes of shares. All Notessity shares are identical, redeemable and non-transferable. Shareholders must hold their shares until they or the company demand the repurchase of the shares or the owner loses the capability to hold the shares. The company will refund the money collected for the shares and cancel them in such cases. Shareholders must avoid any circumstances that would transfer their shares to a different owner. Thus, shareholders may not create or attach any contract, mortgage, security interest, charge, lien or other encumbrance or adverse interest to any share they hold.
All shareholders become acting directors of the company with all of the associated powers and responsibilities that are specified in the company constitution. When voting on a resolution, they may cast one vote for every share they possess. Alternatively, shareholders who collectively own at least 80 shares may sign a resolution into effect with the same validity as if it had been approved by way of a vote. In either case, it makes no difference if the resolution is a matter reserved for directors or shareholders; the rules and the participants are identical.
Notessity shares lack several typical privileges. First, they do not ever pay a dividend or otherwise compensate shareholders for holding shares. Shareholders also do not have a pre-emptive right to buy the number of new shares needed to maintain their previous percentage of company ownership when the company allots new shares. Lastly, shareholders remain responsible for the damages they cause the company as a director if they violate a provision within sections A, B or C of the company constitution while failing to correct the violation after it is raised as an issue for evaluation at a company meeting after customary accommodation has been made for their attendance and participation.
Distribution of Shares
| Shareholder | Shares |
| Joseph Inman | 80 |
| Total: | 80 |
This Statement of Shareholder Rights is not evidence of share ownership and Notessity Charity Limited is not liable to anyone if it contains errors or omissions. See the above Share Register for the official record of share ownership.
Share Register
Notessity does not have distinct classes of shares. All Notessity shares are identical, redeemable and non-transferable. They must be held by the original owner until that owner or the company demand their repurchase, or they involuntarily fall under new ownership. In these cases the company will refund all money collected for the shares and cancel them.
Current Shareholders
- Joseph Inman of 109 Champion Street, Edgeware, Christchurch 8013
| Date | Description | Total | Money Due |
| 11/03/2020 | Share allotment | 80 | $80.00 |
Past Shareholders
- none
This Share Register is the only official record of share ownership.