[Advice Needed] Shareholding in a Pte Ltd company
An honorable member of the Coffee Shop Has Just Posted the Following:
A couple of professors and another friend of theirs set up a company two years ago to provide tuition center services in Indonesia. Recently, they wanted me to join their company. They offered me a directorship and 20% shareholding. When I accepted their offer, I received a letter signed by the majority shareholder (who holds 60% stake) detailing that my stake in the company and the scope of my corporate responsibility. The format of the letter is like this: XXX Company provides tuition services in Indonesia. The address of the company is XXXYYY. The shareholders are: ABC: 60% DEF: 10% Me: 20% GHI: 10% The duties of Mr "Me" are as follows: (a), (b), (c) Signed, Mr ABC [Corporate stamp and logo - not photocopied] [Company Incorporation address and Registration] The letter seems quite flippant. Is it sufficient to guarantee that I really have a 20% stake in the company? Click here to view the whole thread at www.sammyboy.com. |
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