Record Bonus Issue Shares
Bonus shares can be issued to the same share class on which the bonus is calculated or to a different share class.
Bonus issues are allotments of shares to existing shareholders of a company. The shareholders receive shares free of charge in proportion to their current holdings which result in an increase of the total shares in issue.
Before you start
To issue bonus shares, you must first ensure that the share class on which the bonus is being calculated, has all the issued shares allotted. If the bonus shares are to be issued in another share class, that class must also have all the issued shares allotted. Refer to Allot Shares to a Shareholder to learn more.
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Open the required company record and go to Ownership > Share Classes.
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Select Options
against the share class you want to calculate the bonus shares on and select Bonus Issue to open the Share Bonus Issue wizard. -
On the Bonus Issue on Share Class page, select the share class on which the bonus issue is to be calculated, then select Next.
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On the Share Class Bonus Issued To page, select the share class you want to issue bonus shares to, then select Next.
It can be the same share class on which the bonus is calculated or you can also issue them to a different share class.
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On the Event Date page, enter the event date, then select Next.
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On the Bonus Issue page, enter how many bonus shares the shareholders are to have per share they already hold and enter the date at which the current shareholdings are to be calculated. Select Next.
In this example, the shareholder receives two new shares for every share they currently own.
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On the Select People page, you can add or remove shareholders the bonus issue affects. Select Next.
The shareholders entitled to bonus shares are listed as at the record date, including how many shares they own at that date and how many bonus shares they are about to receive. If certain shareholders should not receive bonus shares, you can remove them from the list.
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On the Notes page, enter any relevant notes and record whether the notes should appear on the statutory registers. Select Next.
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On the Board Meeting page, enter the date of the board meeting that was held approving or noting this event, then select Next.
If the date of the board meeting is unknown, skip this step.
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On the Shareholders' Resolution page, enter the shareholder resolution details, if required, then 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 the documents are processed. When the status shows as Completed, select Finish to close the wizard.
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.
If you chose to update all records immediately, the Share Classes page displays the bonus issue shares. You can find the documents produced for this event in Documents > Working Documents.
