Subdivision of Shares

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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 is decreased and the number of total shares is increased. The class of shares and the total value of shares issued remain unchanged.

Example:

John Brown has 100 $1 Ordinary shares (overall value of $100) which will be subdivided into 200 $0.5 Ordinary Shares (overall value of $100)

Navigation


 

From the Main Toolbar, go to Company.

Select the Company from the list.

Select Shareholders

 

Click 

Select Subdivisions

Instructions


CAS 360 will display the Subdivisions screen.

Field
Explanation 
Transaction Date
Input the Date of Subdivision
Shareholder

In the shareholder field, CAS 360 will display a list of the company's current shareholders

Beneficial Owner CAS 360 will automatically prefill this field if there is a beneficial owner.
Share Type

In the Share type field, CAS 360 will display a list of the share types the shareholder holds

Number of shares to be subdivided
 Input the relevant number of shares
Number of shares after subdivision
The amount of shares must be more than the amount in the Number of shares to be subdivided field
Meeting Status
Select the meeting status of the member which will appear on the Resolutions.
Notes Type to add extra notes to appear on the Register of Members
                                                      2. Certificate Details - Transferor  
          Field                                       Explanation
Certificate Type  Select the Certificate type. Options range from 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. 
                                                      Certificate Details - Transferee   
          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 


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 Minutes or Resolution
  • Notice of Members Meeting
  • Members Minute of Resolution
  • Member Consent
  • Share Certificate
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