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.
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Follow the easy steps below to complete your company’s share reclassification or conversion.
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.
1st Option: To convert a share class into a new share class, a box will appear that will prompt you to fill in the details of the new share class (name, the date when they were created, type, description and whether they are Par Value or Non Par Value shares).
Next, another box will appear, asking you to specify the conversion date and the share class which the old shares were converted from. Fill in the correct details, and click on Save.
2nd Option: To convert a share class into an existing share class, click on the aforementioned option, fill in the date the shares are converted, which share class they are being converted from, and which share class they will be converted to, and click Save.
Please Note: Old share certificates will be deleted/cancelled 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.