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.
Estimated Reading Time: 1 minute 30 seconds
Step 1: If your shareholders are already captured, go to the Shareholders tab and click Transfer Shares.
Step 2: 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. Select the Transferred To and the date of the transfer.
Step 3: Scroll down to proceed to complete the price per shares, the number of shares and the share certificate number. 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.