Record Share Disposals for Multiple Shareholders
You can record a share disposal for multiple shareholders using the same date or on different dates.
You can provide the details of the share disposal for each selected entity.
Before you start
You can only dispose of shares that have been allotted to shareholders. Refer to Allot Shares to a Shareholder to learn more.
Note
If you want to dispose of shares for a single shareholder, refer to Record a Share Disposal.
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Open the company issuing the shares and go to Ownership > Shareholders.
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Select Wizards > Batch Many People > Share Disposal to open the Shares Disposal wizard.
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On the Type of Disposal page of the wizard, select the disposal type, then select Next.
Note
Make sure you select the correct type of disposal to ensure that the event is recorded correctly in Shares History.
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On the Board Meeting page of the wizard, 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 Share Class page, select the share class the shares you want to dispose of belong to and select Next.
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On the Event Date page, enter a date if all disposals take place on the same date.
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On the Select People page, select Add Many, then use the search options to find the entities you want to record the disposals for and select them. Then select Next to add them to the list.
In the Search field, 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. Whether the search is a contains or a begins with type of search depends on your user preferences. Refer to Change User Preferences to learn more. 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.
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On the Select People page, select the entities in the list one by one, select Edit and provide details about the given entity. Select Next.
When you select Edit, first the Shareholder page displays with the selected entity and search options. Select Next to move to the following pages where you can provide an event date, the number of shares, select the certificates to cancel and provide the consideration per share for the given entity. When you provided all the details, you are taken back to the list of entities on the Select People page.
Note
If the Prompt for beneficial owner on new company share events system option is enabled or the Prompt for beneficial owner on new share event wizards company option is enabled, the Beneficial Owner page also displays so that you can select the beneficial owner. Refer to System Options or Company Options to learn more.
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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 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 documents are processed. When the status shows as Completed for all documents, select Finish to complete the wizard.
If you chose to update all records immediately, the Shareholders page displays the share disposals. 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.
