When a shareholder passes away, their investment does not simply vanish. The shares they held remain valid assets, ones that can and should be transferred to the rightful beneficiary or executor. This process is known as share transmission, and it is one of the most important services a registrar offers.

At Meristem Registrars & Probate Services Limited, we handle this process with the diligence and sensitivity it deserves, ensuring that what a shareholder worked for is properly passed on to those they leave behind.

What is Share Transmission?

Share transmission is the formal, administrative process of transferring ownership of shares from a deceased shareholder to their beneficiary or legal executor. Unlike a voluntary share transfer, in which a living shareholder chooses to sell or gift their shares, share transmission is triggered by death and governed by legal documentation.

In simple terms, the share account of a deceased shareholder becomes an Estate account. Transmission is the step that formally moves them from the deceased shareholder’s name to an Estate to enable legally authorised Administrators/Executors to have access to them.

The Role of the Registrar

As registrars, our responsibility in the transmission process is threefold:

• Verify the documentation — We review all legal documents provided, including the death certificate, letters of administration or grant of probate, and valid identification of the beneficiary or executor.
• Update the register of members — Once documentation is confirmed, we update the company’s shareholder register to reflect the name of the Estate.
• Ensure proper transfer — The shares are formally transmitted to enable the administrator or executor to exercise authority over the shareholdings, outstanding dividend (if any), bonuses, rights issues or corporate action.

Every step of share transmission is handled within the legal and regulatory framework that governs the Nigerian capital market, ensuring that the process is both valid and protected.

What Documents Are Required?

To initiate a share transmission, the following documents are typically required:

1. Death certificate obtained from the National Population Commission (NPC)
2. Letters of Administration or Grant of Probate
3. Gazette or Newspaper publication
4. Valid means of identification for the administrators or executors
5. Banker’s confirmation of signature
6. Completed transmission application form
7. Any evidence of ownership of the investment

Requirements may vary depending on the size of the estate and whether a Will exists. Our team will guide applicants through exactly what is needed for their specific situation.

Why This Matters

Many families are unaware that a loved one’s shares can be accessed and transferred after death. As a result, significant holdings often remain dormant for years, sometimes permanently, simply because the process was never initiated.

Share transmission ensures that an investment built over a lifetime does not go to waste. It is a lawful, structured process and one that our team at Meristem Registrars & Probate Services Limited is fully equipped to support you through.

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