How to enter a Share Consolidation within the Share Register

Introduction

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

A Share Consolidation is defined when the number of shares has decreased and the nominal value has increased, for example, Before = 100 Ordinary £1 shares > After = 10 Ordinary £10 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 Consolidation

1. Select the Events tab.

2. Select New and select Share Consolidation from the drop-down menu.
   
   
   
   The following screen displays.

3. Use the scroll bars to view more columns in the Shares qualifying for consolidation and New Shares sections.

3. In the Shares qualifying for consolidation section, select the share type which is being Consolidated.

4. Enter the number of shares that are being consolidated under the No. of shares column against share type(s).

5. Select the box under the Disc. column if the share type is discontinued once consolidated (If the shares are not being discontinued ensure this box is not selected.)

6. In the New Shares section select, select the share type(s) to be consolidated.

7. Under the column No. of shares enter the number of shares that are being generated by the consolidation against the relevant share type(s).

8. If an additional amount applies enter the amount in Shares will be consolidated as above with an additional amount of field (this is per qualifying unit).

9. Enter a date in the Consolidation taken place on field.

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

11. From the Authoriser Designation field select the relevant option from the drop-down list.

12. Click OK.
    
    

The following screen displays.

13. Click Yes to make all implied transactions.
    
    
    
    The following screen displays.
    
14. Click Yes.
    
    
    
    The following screen displays.
    
15. Click Close.
    
    

• This will revert back to the Events tab showing the Share Consolidation.

16. Click Close.

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