Transferring shares is the process of moving allotted (“issued”) shares from one shareholder to another. With InfoDocs, your shareholder records are held digitally which simplifies the process of making shareholder changes and populating the corresponding records.
In order to start a transfer, you will first need to ensure that all of the shareholder records are captured on your company’s profile.
If your shareholders are already captured, go to the Shareholders tab and click Transfer Shares. A window will prompt you to choose who you are transferring to. You can either select an existing shareholder from the dropdown or, right at the bottom select Create New Shareholder.
If you have the individual on your profile, you can simply type their name in the Individual Search and InfoDocs will populate their information. Alternatively, fill in their details as prompted and click Next. This will take you back to the transfer window to select the shareholder, relating certificate, and date of the transfer.
To transfer the full amount of shares, select the checkbox, All of them, or fill in the portion of shares you are looking to transfer. With partial transfers, an additional box will be added at the bottom of the window to prompt you to decide which certificate you would like to send the balance of the shares to.
To make additional transfers send the balance back to the original share certificate. This certificate can then be selected for further transfers until all the shares have been depleted. To issue the balance shares back to the original shareholder, simply leave the suggested certificate number and InfoDocs will generate the new certificate and cancel the old.
Finally, choose the amount that was paid for the shares and click Save.
Now that your transfer is completed, InfoDocs will populate all of the supporting documents to finalize the transaction. Namely;
- the updated register with the transfer details,
- the security transfer form (old CM42 form) and
- the share certificate/s
If you do not download the supporting documents in this window, you can find them in the template library in the PDF templates folder.