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 Reorganisations.
Follow the easy steps below to complete your company’s share redemption.
In order to redeem shares, you will need to edit a share class first, and change it to redeemable.
Step 1: Go to the Share Classes tab, find the share class you would like to edit and click on Edit.
Step2: A box will appear. Make sure the name of the Share Class is correct, and change the Type of Share to Redeemable. Click on Save.
Step 3: Next, click on Share Reorganisation under Actions. In the pop up box, select Redeem Shares.
Step 4: A box will appear wherein you can add the details of the transaction. Select the Share Class being redeemed, the date of the transaction, the Shareholder and their corresponding Share Certificate, the number of shares, and click Save.
InfoDocs will create an Ordinary Resolution detailing the Share Redemption transaction. It will also be visible in your Share Transactions tab.
*You will have to repeat this process for all shareholders of this share class until all shares have been redeemed.