Scribd Logo
Upload

Welcome to Scribd!

  • Directors' Resolutions

    Uploaded by

    Kagimu Clapton E
    3 views1 page
    The board of directors of Mills Limited held a meeting on an unspecified date in 2000. At the meeting, the chairman reported that arrangements had been made with Xxxxxxx Bank Limited to grant the company credit facilities of up to KShs. 25 million. The board resolved to borrow sums up to this amount from the bank. They further resolved to create a first fixed and floating debenture for KShs. 25 million over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of the bank and to execute necessary documents required by the bank.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The board of directors of Mills Limited held a meeting on an unspecified date in 2000. At the meeting, the chairman reported that arrangements had been made with Xxxxxxx Bank Limited to grant the company credit facilities of up to KShs. 25 million. The board resolved to borrow sums up to this amount from the bank. They further resolved to create a first fixed and floating debenture for KShs. 25 million over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of the bank and to execute necessary documents required by the bank.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views1 page

    Directors' Resolutions

    Uploaded by

    Kagimu Clapton E
    The board of directors of Mills Limited held a meeting on an unspecified date in 2000. At the meeting, the chairman reported that arrangements had been made with Xxxxxxx Bank Limited to grant the company credit facilities of up to KShs. 25 million. The board resolved to borrow sums up to this amount from the bank. They further resolved to create a first fixed and floating debenture for KShs. 25 million over the company's assets, undertakings, goodwill, receivables, inventory, and uncalled share capital in favor of the bank and to execute necessary documents required by the bank.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    dddd MILLS LIMITED

    DIRECTORS’ RESOLUTION

    AT A MEETING OF THE BOARD OF DIRECTORS HELD AT … … … … … ON THE … … … DAY


    OF … … … … … 2000 AT … … … A.M/P.M.
    PRESENT WERE:

    THE CHAIRMAN REPORTED that arrangements had been made with Xxxxxxx Bank
    Limited, ....., ..... Street, Nairobi to grant to the Company credit facilities not exceeding the sum
    of Kenya Shillings Twenty Five Million (KShs.25,000,000.00).

    IT WAS RESOLVED that the Company should borrow from the Bank in manner aforesaid
    sums not exceeding Kenya Shillings Twenty Five Million (KShs.25,000,000.00).

    IT WAS FURTHER RESOLVED that the Directors be and are hereby authorised to create a
    first fixed and floating Debenture for Kenya Shillings Twenty Five Million (KShs.25,000,000.00)
    over all the assets undertaking goodwill receivables and inventory both present and future and
    uncalled share capital of the company in favour of ..... Bank Limited and to execute all the
    necessary documents as may be required by the Bank in this connection.

    The above is certified a true copy of


    The Resolution of the Board of Directors

    __________________________ __________________________
    CHAIRMAN SECRETARY

    You might also like