Increase of the equity of a LLC (SIA) with no minimum capital requirement
7. Folio of the shareholders’ register
It shall be signed by the Chairman of the Management Board or a Member of the Management Board on the basis of a mandate signed by all members of the Management Board. Participants and acquirers of new parts shall not be obliged to sign the compartment.
The document must specify:
- company name (firm name);
- registration number;
- the registered office;
- the title of the document 'Participant registry partition';
- the fact that the company is in liquidation or insolvency proceedings (where applicable);
- the serial number of the compartment;
- the date of the bin;
- the serial number of the entry;
- details of participating persons — natural persons: given name, surname, personal identity number (if the person does not have a personal identity number of the Republic of Latvia, then indicate the date of birth, the number of the personal identification document and the date of issue, the country and institution which issued the document) and the address at which it is to be reached;
- the electronic mail address of the participant (if the participant has requested it to be used for public communication with him or her);
- the serial numbers of the shares belonging to the participant;
- categories of shares of each Member where the undertaking has several categories of shares;
- the number of shares held by each participant;
- the nominal value of the part;
- the number of votes resulting from the shares held by the Member;
- the state of payment of the instalments;
- if the shares are jointly owned by several persons, a joint representative of the participants who has been appointed in accordance with the procedures laid down in Section 157 of the commercial Law shall be indicated, indicating the given name, surname, personal identity number of the representative (if the person does not have a personal identity number of the Republic of Latvia, then the date of birth, the number of the personal identification document and the date of issue, the state and institution which issued the document) and the address at which it is to be reached shall be indicated;
- if the shares have been acquired by the company itself, the basis for acquiring the shares shall be indicated.
Bins must be numbered according to the previous bin numbers. For example, if, in a company registration case, the previous partition in the register of members Nr.2 has been the previous partition in the register of shareholders, the next partition in the register of shareholders No 3 has to be the partition in the register of shareholders.
Entries in the Member register bin must be numbered using continuous numbering of entries from the first Member register bin. A separate entry is made for each participant. New parts must be assigned serial numbers in order of issue, numbering cannot be resumed. For example, if before the increase there were two participants who each owned 10 parts and the increase results in 5 more parts each, the order numbers of the parts should be indicated as follows: first Member 1-10 and 21-25, second Member 11-20 and 26-30.
Each part shall give only one vote to the Member, unless otherwise provided in the statute. The division of the register of members shall specify, inter alia, the number of votes resulting from the shares. For example, if a Member has 50 shares in a company and according to the articles of association one part gives 1 vote, the division of the register of shareholders shall indicate that the number of votes resulting from the shares is 50. However, if a shareholder has 50 shares in a company and according to the articles of association one part gives 3 votes, it shall be indicated in the division of the register of shareholders that the number of votes resulting from the shares shall be 150.