Transfer Shares
You can transfer shares from one shareholder to another in the Ownership section of the company record.
Watch this short video on how to transfer shares or read the steps below.
Before you start
You can only transfer shares that have been allotted to shareholders. Refer to Allot Shares to a Shareholder to learn more.
To transfer shares from one shareholder to another, follow the steps below. If you want to transfer shares for multiple shareholders in one go, refer to Transfer Shares to Multiple Shareholders.
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Open the company record and go to Ownership > Shareholders.
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Select Options
for the shareholder who is transferring the shares, then select Share Transfer to open the Transfer Shares wizard.This option opens the one-page wizard. The Transfer Shares wizard is also available in a multi-page format. To open that, select Wizards > Multi-Page Wizards > Share Transfer.
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In the Board Meeting section on the Transfer Shares page, enter the date of the board meeting that was held approving or noting this event.
If the date of the board meeting is unknown, skip this step.
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In the Share Class section, select the share class the shares to be transferred belong to.
Note
The Existing Shareholder section is populated automatically. If the Prompt for beneficial owner on new company share events system option or the Prompt for beneficial owner on new share event wizards company option is enabled, the Existing Beneficial Owner section also displays either populated with the beneficial owner that has been entered in the system or empty, if no beneficial owner has been entered. Refer to System Options or Company Options to learn more.
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In the Transfer section, enter the event date and the number of shares that are to be transferred from the current shareholder.
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In the Transferee section, use the search to find the individual you want to transfer the shares to from the current shareholder. Use the New option if the individual you want to select is not in the system yet.
Use the Search field to select whether to search in shareholders, individuals and so on. In the By field you can specify what detail to search by, such as name or quick reference. The Advanced Search gives you more options to refine your search such as who the entity is managed by. Once you select an entity, the system lists what information is missing from the record, if any, and gives you the option to open the record to add the missing information.
Note
If the Prompt for beneficial owner on new company share events system option or the Prompt for beneficial owner on new share event wizards company option is enabled, the Transferee's Beneficial Owner section also displays where you can add a beneficial owner for the transferee. Refer to System Options or Company Options to learn more.
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In the Cancel Certificates section, select the share certificates to be cancelled as a result of the transfer.
By default, all existing certificates in the relevant share class are cancelled, leaving the shareholder with a balancing certificate for any remaining shares held.
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In the Consideration section, enter the amount paid per share and the total paid if the consideration paid differs from the nominal value.
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In the Notes section, enter any relevant notes and record whether the notes should appear on the statutory registers. 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, then 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 documents are processed. When the status shows as Completed, select Finish to close the wizard.
If you chose to update all records immediately, the Shareholders page updates to show the transfer. You can find the documents produced for this event in Documents > Working Documents.
If you chose to save the event as a pending event, you can find the pending event in Compliance > Pending Events. You can action the pending event there when required. When the event is actioned, the Shareholders page is updated.
