The Shareholder Register Section is a document that specifies the full composition of shareholders and the distribution of shares. It is signed by the Chairperson of the Board or a board member authorized by a power of attorney signed by all board members.
The document must include:
- The name (firm) of the company;
- The legal address;
- The title of the document: “Shareholder Register Section”;
- The section’s serial number;
- The date of the section;
- The entry’s serial number;
- Information about the shareholder(s) – natural persons: full name, personal identity number (if the person does not have a Latvian personal identity number, then the date of birth, identity document number and date of issue, the country and authority that issued the document must be provided), and a contactable address;
- Information about the shareholder(s), if the shareholder is a legal entity or partnership: name, registration number, and legal address;
- The shareholder’s email address (if the shareholder has requested it to be used for communication with the company);
- Serial numbers of the shares owned by the shareholder;
- The category of shares held by each shareholder, if the company has multiple categories of shares;
- The number of shares held by each shareholder;
- The nominal value of the shares;
- The number of votes derived from the shares held by the shareholder;
- For fully paid shares, the payment status does not need to be indicated;
- If shares are jointly owned by several persons, the joint representative of the shareholders appointed in accordance with Article 157 of the Commercial Law must be indicated, including the representative’s full name, personal identity number (or, if not available, date of birth, identity document number and date of issue, country and authority that issued the document), and a contactable address.
Each share entitles the shareholder to one vote, unless otherwise specified in the Articles of Association. Among other details, the Shareholder Register must indicate the number of votes derived from the shares. For example, if a shareholder owns 100 shares and, according to the Articles, one share equals one vote, then the register must state that the shareholder has 100 votes. Conversely, if a shareholder owns 100 shares and one share equals three votes, then the register must indicate the shareholder has 300 votes.
