An exempted company is the most common form of Cayman company
and this client briefing seeks to address the issues involved when
security is granted over shares in a Cayman exempted company.
This client briefing is intended to provide a general
summary of the position in law as at the date shown above, and is
not to be taken as specific legal advice applicable to particular
issues or circumstances. If such advice is required, please contact
your usual Ogier contact or one of our partners listed
here.
Nature of Exempted Company Shares
The ownership interests in an exempted company are registered
(i.e. book entry) shares. Legal title to shares derives from
entry in the register of members, and it is typical for a
company's constituent documents (i.e. the memorandum and
articles of association) to provide that the company shall not
recognise any interest in shares other than the interest of the
registered holder, whom it treats as the legal and beneficial
owner.
