Issuing/Allotting Shares

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Details


When you incorporate, you must provide details of all company shares and shareholders to the Companies Office. As changes occur to the total number of shares in your company, you must notify the Companies Office within 10 working days of the change. You must also update this information on your own share register and in your company's annual return.

A company's right to issue shares is governed by the Companies Act 1993 and the company's own constitution (if it has one). Every NZ company must have at least 1 shareholder and issue at least 1 share, and an existing company may choose to issue more shares. When a company passes on shares to new or existing shareholders, this is called a share issue. A company can issue one or more shares, and each allocation of shares can have one or more shareholders. Shares may be issued to anyone, singly or in combination.

 

 


 

From the Main Toolbar, go to Company.

Select the Company from the list.

Select Shareholders

 

Click 

Select Allotments.

Instructions


CAS 360 will display the Allotments screen.

1. Share Details
Field Explanation
Transaction Date
Input the date of the allotment.
Allottee

In the Allottee field, begin typing the new shareholder's name. CAS 360 will search the Global Contacts screen for the person. If the contact has not been previously added to the Global Contacts screen,  will display.

Click  to add a new contact.

Beneficial Owner

If there is a Beneficial Owner of the shares, type their name in the Beneficial Owner field. CAS 360 will search the Global Contacts screen for the person. If the contact has not been previously added to the Global Contacts screen,  will display.

Click  to add a new contact.

See beneficial owners for more information.
Share Type

In the Share type field, begin typing the name of the share type to be allotted. CAS 360 will begin a search for previously added share types. If the share type has not been previously created,  will display.

Click  to add a new share type.

Premium Paid

Enter the value amount for the Premium Paid in the Premium Paid field

A premium is paid where shares are issued at a price in excess of their value.

Example: $10 is paid for a $1 Ordinary share, the Premium paid is $9.

You have the option to select whether this is displayed on your Share Certificate in the document production screen.

Premium Unpaid

Enter the value amount for the Premium Unpaid in the Premium Unpaid field. 

Premium unpaid is the amount unpaid on the price of the shares. 

Example: $5 is paid for $1 Ordinary share, value is $10. Premium unpaid is $4. 

Number Of Shares
Input the number of shares allotted.
Consideration Type
Select the consideration given to acquire the shares.
Meeting Status
Select the meeting status of the member which will display on the Resolutions. Options to choose from include Attendee, Chairperson, Apology and Non-Attendee.
Notes Type to add extra notes which will show on the Register of Members.
                                                      2. Certificate Details
          Field                                       Explanation
Certificate Type  Select the Certificate type. Options range from Transaction, Balance or None. 
Certificate Number  Type the Certificate Number for the Shares, This will feature on the Allotment Journal, Share Certificate, Notice of Beneficial Ownership (if applicable) and the Declaration of Trust. 
Certificate Location Type the location of the Certificate. 
Unique Numbers Type a Unique Number to assign to the shares. 

Click 2.png

Forms Prepared


CAS 360 will display the Document Production screen and automatically select the documents required:

  • Cover Letter
  • Company Change Summary
  • Register of Members
  • Allotment Journal
  • Directors Meeting Minute or Resolution
  • Notice of Members Meeting
  • Members Minute or Resolution
  • Member Consent
  • Share Certificates
  • Application for Shares
  • Notices of Beneficial Ownership (only if a Beneficial Owner was selected)
  • Declaration of Trust (only if a Beneficial owner was selected)

 

**Must create page for Beneficial Owners, Global Contacts, Document Production. 

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