TRUST DEED – SHARE
THIS TRUST DEED is made on the (insert date) between (insert name) of I/C No. (insert details) of (insert address) (hereinafter called the “Trustee”) of the one part and of I.C. No. of (hereinafter called the “Beneficiary”) of the other part.
WHEREAS :-
At the request of the Beneficiary on the , the Trustee is the registered owner of …… only (……..) ordinary shares (hereinafter referred to as the “said Shares”) of RM1.00 each fully paid up and representing 20% of the share capital of ………. [Company No. ….], a private limited company incorporated in Malaysia and having its registered office at ……….. (hereinafter referred to as “the Company”)
1. The money for the purchase of the said Shares was provided solely and absolutely by the Beneficiary.
2. It is desirous that the said Shares be registered in the name of the Trustee and in consideration thereof the Trustee has agreed to execute this Trust Deed hereinafter appearing.
NOW IT IS HEREBY AGREED AS FOLLOWS :-
1) The Trustee declares that he holds and shall hold the said Shares and any further shares purchased and paid for by the Beneficiary and any bonus issue thereon, any rights issue and dividends payable thereon, if any, from time to time upon trust for the sole benefit of the Beneficiary absolutely and will sell, transfer or otherwise deal with the said Shares or any amount thereof as the Beneficiary shall from time to time in writing direct.
2) The Trustee will at the request of the Beneficiary attend all meetings of shareholders or otherwise which he shall be entitled to attend by virtue of being the registered holder of the said shares and will vote at every such meeting in such manner as the Beneficiary shall have directed and the Trustee shall execute all proxies or other documents which shall be necessary or proper to enable the Beneficiary or nominee to vote at any such meeting.
3) The Trustee shall execute the Share Transfer Form (i.e. FORM 32A) in respect of this Trust Deed and shall deliver to the Beneficiary the said FORM 32A and the relevant share certificates upon issue to be kept by the Beneficiary in escrow upon execution.
4) The Beneficiary and or his personal representatives shall have the power to appoint new Trustee or Trustees of this Trust Deed.
5) The Beneficiary hereby covenants and undertakes to indemnify the Trustee from all existing and future liabilities of whatsoever kind arising out of or in connection with the said Shares, save if such liability was incurred out of the negligence of the Trustee.
6) The expression “the Trustee” and “the Beneficiary” shall where the context so admits include their respective heirs, successors-in-title and personal representatives.
7) Words importing the feminine gender shall include the male and neuter genders and vice versa.
8) Words importing the singular number shall include the plural number and vice versa.
IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first abovewritten.
Signed, sealed and delivered by the Trustee )
)
in the presence of :- ) ………………………………………
Signed, sealed and delivered by the Beneficiary )
)
in the presence of :- )
…………………………………
