Corporate Governance
Company profile
Silver company Pvt Ltd was introduces in 1993 by Mr.Bari Rushdhi a prominent entrepreneur in Maldivian shipping industry. Since 1993, Silver Company has been privilege in handling several shipping lines, fright forwards and logistic companies in the world.
Company has one office in Male’ and two branch office in India and Thailand. Around thirty employees work in the company.
In company there are two boards of directors, they are Mr.Mohamed Nabeel and Mr. Imran Rushdhy.
The company Managing Director is Mr. Mohamed Nabeel and he is also the chairman of the Company.
In the company they do not have an audit committee but they have a company secretary.
Procedure for Silver company becoming public company
In the company act it states that a public company can be registered if the persons forming the company consent to buy share of at least 1 million Maldivian rufiyaa in value and pay that amount to the company and submit the evidence of payment to the register. (Ministry of Economic Develepment, 2011)
According to company act of Maldives if a private company wants to become public company, company should pass a special resolution from the board of directors. When the special resolution is passed board should agree to alter company memorandum and article of association. In the alteration of article there should not have any restriction for issuing shares. To become public limited company there are documents Silver Company have to submit with the application to the registrar, they are :
- Special resolution passed by the board to become public limited company.
- Special resolution passed from the board to alter memorandum and article of association.
- The memorandum and articles of association of the company after conveying them into compliance with the memorandum and articles of association of a public company as agreed in this Act.
- The prospectus. ( public offering letter) (Ministry of Economic Develepment, 2011)
Silver company has
Silver company Pvt Ltd was introduces in 1993 by Mr.Bari Rushdhi a prominent entrepreneur in Maldivian shipping industry. Since 1993, Silver Company has been privilege in handling several shipping lines, fright forwards and logistic companies in the world.
Company has one office in Male’ and two branch office in India and Thailand. Around thirty employees work in the company.
In company there are two boards of directors, they are Mr.Mohamed Nabeel and Mr. Imran Rushdhy.
The company Managing Director is Mr. Mohamed Nabeel and he is also the chairman of the Company.
In the company they do not have an audit committee but they have a company secretary.
Procedure for Silver company becoming public company
In the company act it states that a public company can be registered if the persons forming the company consent to buy share of at least 1 million Maldivian rufiyaa in value and pay that amount to the company and submit the evidence of payment to the register. (Ministry of Economic Develepment, 2011)
According to company act of Maldives if a private company wants to become public company, company should pass a special resolution from the board of directors. When the special resolution is passed board should agree to alter company memorandum and article of association. In the alteration of article there should not have any restriction for issuing shares. To become public limited company there are documents Silver Company have to submit with the application to the registrar, they are :
- Special resolution passed by the board to become public limited company.
- Special resolution passed from the board to alter memorandum and article of association.
- The memorandum and articles of association of the company after conveying them into compliance with the memorandum and articles of association of a public company as agreed in this Act.
- The prospectus. ( public offering letter) (Ministry of Economic Develepment, 2011)
Silver company has