How to enter a Share Split within the Share Register

Introduction

This topic explains how to enter a share split within the Share Register using the Company Secretarial module.

• A Share Split is defined when the number of shares have increased and the nominal value is decreased, for example. before = 100 Ordinary £1 shares | after = 1000 Ordinary 10p shares.

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Step 1 - Creating the New Share Type

1. From the menu bar select Edit |Share Register
   
   The following screen displays.
   

2. Click New.
   
   
   
   The following screen displays.

3. Enter the Class of capital.

4. Click into the Short name field. The Short name is automatically filled, edit the name entered if necessary.
   The Short Name is used instead of the Class of Capital due to the restricted space available on the forms.

5. Enter the Nominal value.

6. Click into Show on documents as field to display currency.

7. Click OK.
   
   
   
   The following screen displays.

8. Enter the Effective date of change.

9. Click Log.
   
   
   
   The following dialogue displays.

• This is a prompt to issue the New Share type.

10. Click No.

• If additional share types need to be created follow steps 2-10. The screen will revert back to the Share Types Tab, which will reflect the Ordinary Shares and the New Share type(s) information as shown below.

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Step 2 – Creating the Share Split

1. Select the Events tab.

2. Click New and select Share split from the drop-down list.
   
   
   
   The following screen displays.

3. Enter the number of shares to be split in the Every field.

4. Select the share type from the shares of type drop-down list.

5. Enter the date of this event in the Held on field.

6. Enter a date in the Date of resolution field.

7. If the share type is to be discontinued select the Original share type discontinued after split option.

8. If an additional amount is being paid enter this in the An additional amount of field.

9. Select the Specify allocation per person option if you wish  to specify which members shares are split.

10. Under the Select column select the new share type created.

11. In the Number of shares column enter the number of shares to be created from the share split.

12. Select the relevant Authoriser Designation from the drop-down list.

13. Click OK.
    
    
    
    The following dialog displays.

14. To automatically allocate the split shares, click Yes, to manually allocate the split shares, click No.
    
    
    
15. If Yes is selected the following screen displays. Click OK.

16. The Share Event screen displays. Click Close.

This will revert back to the Events tab showing the Share Split

Or

17. If No is selected the following dialog displays. Click Yes.

18. The following screen displays. Click OK.

19. The following screen displays. Click Close.

20. This will revert back to the Events tab showing the Share Split. Click Close.
    
    

• The below steps are to be followed if the Specify allocation per person is selected in step 9.

The following screen displays.

21. Enter the amount of shares being split for each member in the Add column.

22. Click OK.

The following screen displays.

23. Click OK.
    
    

24. The following screen displays. Click Close.
    
    

18. This will revert back to the Events tab displaying the Share Split as highlighted :

25. Click Close.

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