Create a Share Class
As a first step in entering ownership information, you must create the share classes against the entity record.
Watch this short video on how to create a share class or read the steps below.
To create a share class:
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Open the required company record and go to Ownership > Share Classes.
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Select New to open the New Share Class wizard.
This option opens the one-page wizard. Select Wizards > Multi-Page Wizards > New Share Class to open the multi-page wizard.
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In the Details section, select a class name, enter the class code if applicable and select the currency for the share class.
You can also enter notes if applicable.
Note
Administrators can create share class names under System Tools > List Manager > Share Class Names. Refer to List Manager for more information.
Details and Total Shares sections on New Share Class page
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In the Total Shares section, enter the total number of issued shares if applicable, their nominal or par value, indicate whether they are non-capital shares and provide information about the voting rights attached to the shares.
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Complete the Partly Paid Shares section if the shares are not paid in full, otherwise ignore this section and move to the next one.
If you select the Partly Paid Shares option, additional fields appear so that you can provide more details, such as the total nominal value that has been paid to date or the date on which the call was made for that payment. In the Total amount of premium due to date field, you can record any premium paid on top of the nominal value. The premium may also be split into different amounts on different calls. Select the Whole premium option if the premium was paid in full.
For more information about partly paid shares refer to Make Payments on Partly Paid Shares.
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In the Rights section, select the share class rights from the list or enter them manually.
Administrators can add share class rights to the Rights list in System Tools > List Manager > Share Class Names. Refer to List Manager to learn more.
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In the Options section, select the type of share and indicate whether shareholders should be included on the register of members.
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In the Event Date section, enter the date when the shares of this type and value were first issued by the company.
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In the Board Meeting section, enter the date of the board meeting where this event was approved.
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In the Shareholders' Resolution section, enter resolution details if applicable. Select Next.
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On the Action page, choose whether you want to save the event as pending or update all records immediately. Select Next.
In the Tracking section, you can assign the event to a specific user and add a reminder. Refer to Pending events to learn more.
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On the Documents page, select the documents you want to generate for the event and select Next.
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On the Finish page, wait while the event and the documents are processed. When the status shows as Completed, select Finish to close the wizard.
If you chose to update all records immediately, the Share Classes page displays the new share class.
What's next?
Once you added all the share classes, you can allocate the shares. Refer to Allot Shares to a Shareholder for more information.
