InfoDocs offers four share reorganisation transactions that are easily completed on the app: Changing Authorised Shares, Re-classifying or Converting Shares, Redeeming Shares, and Share buy-backs. All of these can be found in the Share Classes tab, under Actions, and by clicking on Share Reorganisation.
Follow the easy steps below to convert your company’s par value shares.
Step 1: In the Share Classes tab, click on Share Reorganisation. Select Reclassify / Convert Shares in the box that pops us, and click Next.
Step 2: The next box will give you two options: To either convert a current share class into a new share class or to convert a share class into an existing share class. Select the option that applies.
Convert a share Class into a new share class
Step 1: In order to convert your share class into a new share class, you must first create the share class. Once you have selected this option create the share class by completing the date created, name if the share class, type of share, fill in the description (this is optional), and click Save
Step 2: Another box will appear, asking you to specify the conversion date and the converted from and converted to share class. Fill in the correct details, and click Save.
Convert a share class into an exsisting share class
Step 1: click on the aforementioned option, fill in the date the shares are converted, which share class they are being converted from (par value shares), and which share class they will be converted to, and click Save.
Note: Old share certificates will be deleted/canceled upon conversion and new ones will be created. These transactions you can see as they happened in the Share Transactions tab, and the certificates will be available in the Shareholders tab under Maintain Share Certificates.