Details
When there is a subdivision of shares, the company changes the structure of its share capital by increasing the number of shares originally issued and decreasing the par value of each.
Therefore the value of each individual share is decreased and the number of total shares is increased. The class of shares and the total value of shares issued remain unchanged.
Navigation
| From the Main Toolbar, go to Company. |
|
| Select the Company from the list. |
|
| Select Shareholders |  |
Click 
Select Subdivisions
Instructions
CAS 360 will display the Subdivisions screen.
|
Field
|
Explanation
|
|---|---|
|
Transaction Date
|
Input the Date of Subdivision |
| 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 to be subdivided
|
Input the relevant number of shares |
|
Number of shares after subdivision
|
The amount of shares must be more than the amount in the Number of shares to be subdivided field |
|
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:
- Cover Letter (optional)
- Form SH02 - Notice of Consolidation, Sub-division, Redemption or Re-conversion of Stock into Shares
- Register of Members
- Allotment Journal (optional)
- Directors Minutes or Resolution
- Notice of Members Meeting
- Members Minutes or Resolution
- Members Consent
- Share Certificate