Details
When there is a subdivision of shares, the company changes the structure of its share capital by increasing the number of shares originally issued and decreasing the par value of each.
Therefore the value of each individual share decreases and the total number of shares increases. The class of shares and the total value of shares issued stay the same.
Example: John Brown has 100 $1 Ordinary Shares (overall value of $100) which will be subdivided into 200 $0.50 Ordinary Shares (overall value of $100).
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders. |
Click Add Transaction +
Select Subdivision
Instructions
CAS 360 will display the Subdivisions screen.
1. Share Details
| Field | Explanation |
|---|---|
| Transaction Date | Enter the date of the subdivision. |
| Shareholder | Select the shareholder. CAS 360 lists the company's current shareholders. |
| Beneficial Owner | CAS 360 automatically fills in this field if there is a beneficial owner. |
| Share Type | Select the share type. CAS 360 lists the share types the shareholder holds. |
| Number of shares to be subdivided | Enter the number of shares to be subdivided. |
| Number of shares after subdivision | Enter the number of shares after the subdivision. This must be more than the Number of shares to be subdivided. |
| Meeting Status | Select the shareholder's meeting status. This appears on the resolutions. |
| Notes | Enter any extra notes to show on the Register of Shareholders. |
2. Certificate Details
Enter the certificate details for the Transferor and the Transferee.
Transferor
| Field | Explanation |
|---|---|
| Certificate Type | Select the certificate type. Options are Balance or None. |
| Certificate Number | Enter the certificate number for the shares. This appears on the Share Certificate. |
| Certificate Location | Enter the location of the certificate. |
| Unique Numbers | Enter a unique number to assign to the shares. |
Transferee
| Field | Explanation |
|---|---|
| Certificate Type | Select the certificate type. Options are Transaction, Balance or None. |
| Certificate Number | Enter the certificate number for the shares. This appears on the Share Certificate. |
| Certificate Location | Enter the location of the certificate. |
| Unique Numbers | Enter a unique number to assign to the shares. |
Click Save
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Cover Letter
- Company Change Summary
- Register of Shareholders
- Issued Journal
- Directors Minutes or Resolution
- Notice of Shareholders Meeting
- Shareholders Minutes or Resolution
- Shareholders Consent
- Share Certificate
- Extensive Shareholding List
Filing Shareholder Transactions
Once documents have been downloaded or sent to clients, the company change will appear under Global Documents. For more information on filing company changes, click here.