The Deed of Gift of Shares is a specialized legal instrument used in Nigerian corporate transactions when shares are to be transferred without payment or consideration. This document is commonly used in family business succession planning, corporate restructuring, or charitable donations of shares. It must comply with the Companies and Allied Matters Act 2020 and other relevant Nigerian legislation, including stamp duty requirements. The deed includes critical information such as the parties' details, share specifications, warranties about share ownership, and transfer conditions. It's particularly important in situations involving estate planning, family wealth transfer, or corporate gifting arrangements where formal documentation of the share transfer is essential for legal and regulatory compliance.
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1. Parties: Details of the Donor (person gifting the shares) and Donee (person receiving the shares)
2. Background: Context of the gift, relationship between parties, and confirmation that this is a voluntary disposition
3. Definitions: Key terms used in the deed including 'Shares', 'Company', 'Transfer Date', etc.
4. Gift: Clear statement of the gift of shares and confirmation that it is made voluntarily and unconditionally
5. Consideration: Statement confirming this is a deed made without monetary consideration
6. Completion: Details of when and how the transfer will be completed, including delivery of share certificates and execution of transfer forms
7. Donor's Warranties: Warranties regarding ownership, right to transfer, and absence of encumbrances on the shares
8. Further Assurance: Donor's commitment to execute further documents and take additional steps if needed
9. Execution: Formal execution block meeting requirements for a deed under Nigerian law
1. Tax Declarations: Include when specific tax implications need to be acknowledged or when gift tax exemptions are being claimed
2. Company Consent: Include when the company's articles require consent for share transfers
3. Pre-emption Waiver: Include when other shareholders have pre-emption rights that need to be formally waived
4. Power of Attorney: Include when the donor wishes to grant power to the donee to execute transfer documents
5. Governing Law and Jurisdiction: Include when there are international elements to the transaction
1. Schedule 1 - Share Details: Details of the shares being transferred including class, number, distinctive numbers, and paid-up status
2. Schedule 2 - Company Details: Details of the company whose shares are being transferred including registration number and registered office
3. Appendix A - Share Transfer Form: Standard share transfer form as required by CAMA
4. Appendix B - Company Consent: If required, the written consent of the company to the transfer
5. Appendix C - Existing Share Certificate(s): Copies of the share certificates being transferred
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