Allot Shares to a Shareholder

After you created all the required share classes, you can allot shares to shareholders.

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.

To allot shares to one shareholder, follow the steps below.

If you want to allot shares to multiple shareholders in one go, refer to Allot Shares to Multiple Shareholders.

Allot shares

Open the Share Allotment wizard

Open the company issuing the shares.
Select Ownership > Shareholders.
To open the one-page Allot Shares Wizard, select Allot.
To open the multi-page wizard, select Wizards > Multi-Page Wizards > Share Allotment.

Select the share class

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.
In the Share Class section, 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.

Select the shareholder

Find or create the shareholder to receive the share allotment.

In the Shareholder section, search for the entity you want 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.
In the Search list, select the entity type to search, such as companies or individuals.
In the By field, specify the attribute to search by, such as name or quick reference.
(Optional) You can use the Advanced Search section to refine your search further.
(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.
(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:
- The Prompt for beneficial owner on new company share events system option
- The Prompt for beneficial owner on new share event wizard company option
To learn more, refer to System Options or Company Options.
In the Allotment section, enter the event date, the number of shares you want to allot and, if applicable, the application date and number.

Enter the paid amount

The per share amount entered in the Consideration section must equal the final paid amount.

In the Consideration section, in the Per Share field, enter the amount paid per share:
- If only the nominal value is to be paid by the shareholders, leave the Default option selected.
- 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.
(Optional) If the consideration paid differs from the nominal value, in the Total Paid field, enter the total paid amount.
In the Notes section, enter additional information, if needed. Record whether the notes should appear on the statutory registers.
Select Next.

Approve and save the event

On the Approvals page, you select approvers from the lists. Select Next.
On the Action page, select how to save the event and select Next.
(Optional) If you saved 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.
On the Documents page, wait while the event and the documents are processed. 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.