Allotment Note:
Noun
1. A legal document or written agreement that grants an individual or entity the right to use a specific portion of land or property for a designated purpose, such as gardening, farming, or construction.
2. A record or written statement provided to an individual or organisation to indicate the allocation or distribution of a certain amount of funds, resources, or shares, typically for investment purposes.
3. A written memorandum or document issued by a government agency or organisation to authorize the allocation or distribution of a specific quantity of goods, supplies, or resources to individuals or groups, often in times of scarcity or emergency.
4. A written record or statement provided to an individual or organisation to indicate the division or apportionment of a certain amount of time, tasks, or responsibilities among different individuals or departments, typically in a professional or organisational setting.
An allotment note is a legal document that outlines the terms and conditions of an allotment of shares in a company. It serves as evidence of the shareholder’s ownership and rights in the company. The note typically includes details such as the number of shares allotted, the price paid, any restrictions on transferability, and the rights and privileges attached to the shares. It is often issued to the shareholder after the allotment process is completed and is an important document for both the company and the shareholder to maintain accurate records of share ownership.
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This glossary post was last updated: 29th March 2024.
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