allotment

The allocation of specific property to an individual or company. In the context of company law and shareholders, an allotment is an allocation of a specific number of shares by the board of directors. 

The allotment is complete when an unconditional right vests in the shareholder to have their name entered into the company's register of members.

Usage: An allotment of class A shares to Mr Smith was made by the directors.

Related Words: allotment of shares; property; legal capacity; limited company; public company; private company; subsidiary company; company; limited company; authorised share capital; directors; shareholders.