Details
The return of capital is when some of the consideration the shareholder was previously given is paid back to them.
Example: Homer Simpson was allotted 2 $4 ordinary fully paid shares (total value $8). After the return of capital, Homer was returned $4. Homer now holds 2 $2 ordinary fully paid shares.
Navigation
From the Main Toolbar, go to Company. |
|
Select the Company from the list. |
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Select Shareholders |
Click
Select Return of Capital
Instructions
CAS 360 will display the Return of Capital screen.
Field
|
Explanation
|
---|---|
Transaction Date
|
Input the date of the Return of Capital |
Shareholder |
In the shareholder field, CAS 360 will display a list of the company's current shareholders |
Beneficial Owner | CAS 360 will automatically prefill this field if there is a beneficial owner. |
Share Type
|
In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
Number of shares
|
Input the relevant number of shares affected |
Capital Returned Per Share
|
Amount returned to the shareholder per share held. Cannot be an amount more than the value paid on the shares. |
Capital reduction type
|
See section below for more information |
Meeting Status
|
Select the meeting status of the member which will appear on the Resolutions. |
Notes | Click | to add extra notes to appear on the Register of Members
Click
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Registers – Members
- Directors Meeting Minute or Resolution
- Change to Company Details Form AD01
- Allotment Journal (Optional)
- Share Certificates
- Members Meeting Minute
- Members Consent