Allot Shares to Multiple Shareholders
After you create all the required share classes, you can allot shares to shareholders.
To allot shares to multiple shareholders in one go, follow the steps below.
If you want to allot shares to one shareholder, refer to Allot Shares to a Shareholder.
When allotting shares to multiple shareholders, you can:
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Allot the same number of shares using the same allotment date.
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Allot different numbers of shares on different dates.
Watch this short video on how to allot shares to multiple shareholders in one go or read the steps below.
Before you start
Make sure you have created share classes. To learn more, refer to Create a Share Class.
In some cases, you may need to increase the number of issued shares before allotting them to shareholders. To avoid having to do this manually every time, the administrator can automate the process. To do this, the administrator must activate the Automatically increase/decrease total issued shares on allotment/disposal system option. To learn more, refer to System Options.
Allot shares
Open the Allot Shares wizard
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Open the company issuing the shares.
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Select Ownership > Shareholders.
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Select Wizards > Batch Many People > Share Allotment.
Select the share class
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On the Allot Shares page, in the Board Meeting section, 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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Select Next.
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On the Share Class page, select the share class from the list.
Note
Depending on your user preferences, your search list may be a Begins with or a Contains list. To learn more, refer to Change User Preferences.
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(Optional) If you haven't created the share class yet, use the Add Class option on the Share Class page. You can also select an existing share class from the list and use the Clone Class option to create a new share class with similar details.
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Select Next.
Provide the batch allotment details
If you want to allot the same number of shares on the same date, populate the Batch Event Date and Batch Number of Shares fields on the Batch Allotment page.
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(Optional) On the Batch Allotment page, the Batch Event Date field is automatically populated with the board meeting date you provide on the first page of the wizard. You can change this date.
The batch event date is used as allotment date for all entities you select on the next page.
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(Optional) If you want to allot the same number of shares to all entities you select on the next page, populate the Batch Number of Shares field with the number of shares to allot to each entity.
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(Optional) If you need to provide the exact amount the shareholders pay for a share, enter it in the Consideration Per Share field.
If only the nominal value is to be paid, leave this field empty.
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Select Next.
Select shareholders
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On the Select People page, select Add Many to select multiple entities to allot the shares to.
Note
If the shareholder you want to select is not in the system yet, select New to add them in the New Individual Wizard.
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In the Search list, select the entity type to search, such as companies or individuals.
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In the By field, specify the attribute to search by, such as name or quick reference.
Note
Depending on your user preferences, your search list may be a Begins with or a Contains list. To learn more, refer to Change User Preferences.
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(Optional) You can use the Advanced Search section to refine your search further.
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(Optional) After you select an entity, you may need to update its information to continue. If there's any missing information about the entity you selected, the system lists it and gives you the option to open the record in a new window to add the missing information.
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Select Next.
The table on the Select People page updates to show the entities you selected.
Allot shares
When allotting shares to multiple shareholders, you can:
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Allot the same number of shares using the same allotment date.
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Allot different numbers of shares on different dates.
Allot the same number of shares with the same allotment date
If you want to allot the same number of shares on the same date and you populated the Batch Event Date and Batch Number of Shares fields on the Batch Allotment page, you can continue to the Notes page.
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On the Select People page, select Next.
Allot different numbers of shares with different allotment dates
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On the Select People page, select an entity in the table and select Edit.
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Continue through the pages to edit the necessary details about the entity.
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(Optional) If the Beneficial Owner section is visible, you can select the beneficial owner.
This section appears when one of the following options is active:
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The Prompt for beneficial owner on new company share events system option
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The Prompt for beneficial owner on new share event wizards company option
To learn more, refer to System Options or Company Options.
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On the Allotment page, provide the event date and the number of shares to allot to the entity.
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On the Consideration page, in the Per Share field, enter the amount paid per share:
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If only the nominal value is to be paid by the shareholders, leave the Default option selected.
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If premium is to be paid, clear the Default option and enter the exact amount the shareholders pay for each share.
The total paid amount is automatically calculated by the system.
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(Optional) If the consideration paid differs from the nominal value, in the Total Paid field, enter the total paid amount.
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After you provide all the details, the system displays the list of entities on the Select People page.
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After you finish editing the entities you want to allot a different number of shares to, select Next to continue to the Notes page.
Approve and save the event
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On the Notes page, enter additional information, if needed. Record whether the notes should appear on the statutory registers. Select Next.
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On the Approvals page, select the approvers from the lists. Select Next.
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On the Action page, select how to save the event and select Next.
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(Optional) If you save the event as pending, in the Tracking section, you can assign the event to a specific user and add a reminder.
To learn more, refer to Pending events.
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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.
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When the status shows as Completed, select Finish to close the wizard.
If you update all records immediately, the Shareholders page displays the new share allotment. You can find the documents produced for this event in Documents > Working Documents.
If you 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 and a share certificate is produced for the event.
