Affidavit of share surrender in Kenya

Affidavit of share surrender in Kenya

An Affidavit of Surrender of Shares in Kenya is sworn by a shareholder confirming that they have voluntarily surrendered their shares in a company. It acts as a legal declaration of the shareholder’s intention to give up ownership rights and interests in specific shares.

Shares may be surrendered or forfeited in accordance with the Articles of Association especially due to non payment (call). It is worthy to note that if you have adopted the model memorandum of articles, all shares are deemed paid.

The Affidavit contains the following details:

• Their full name and address.

• Details of the company (name, registration number) (avail the Certificate of Incorporation)

• The number, class, and nominal value of the shares surrendered.

• The reason for surrender.

• A statement of voluntary action.

The affidavit must be sworn before a Commissioner for Oaths or a Notary Public in accordance with the Oaths and Statutory Declarations Act.