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Conversion of Share Class

Overview

When there is a conversion of shares, the class of share is changed but the total value and number of shares issued remain unchanged.

Example: Jenny Quantum has 100 $1 Ordinary Shares which will be converted to 100 $1 A Class Shares

If a conversion takes place, the changes must be recorded on your own share register and included in your next company annual return. The change can also be filed to ACRA via BizFile+ under Conversion of Shares.

Navigation

From the Main Toolbar, go to Company

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Select the Company from the list

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Select Shareholders

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Select Conversions

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Instructions

CAS 360 will display the Conversions screen

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Field

Explanation

Transaction Date

Input the date of the conversion

Shareholder

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

CAS 360 will display a list of the share types the shareholder holds

Number of Shares

Input the relevant number of shares to be converted

Amount of Issued Share Capital

Enter the amount payable for issued share capital in decimals.

Amount of Paid up Share capital

Enter the amount of paid up share capital in decimals. 

For changes to partly paid shares, click here. 

New Share Class

Select the new share class from the list

New Share Sub Class

Select the new share sub class from the list

Meeting Status

Select the meeting status of the member which will display on the Members Minutes

Notes

Add extra notes in relation to the conversion

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Field

Explanation (Transferor & Transferee)

Certificate Type

Select the Certificate Type.

Certificate Number

CAS 360 will automatically pre-fill a number based on previous shareholder transactions.

Certificate Location

Enter the location of the Certificate

Unique Numbers

Type a Unique Number to assign to the shares

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Forms Prepared

By selecting Prepare Forms mceclip7.png CAS 360 will display the Document Production screen and automatically select the documents required

  • Cover Letter
  • Register of Members
  • Members Minutes or Resolution
  • Company Change Summary
  • Share Certificate
  • Notice of EGM
  • Allotment Journal
  • Members Consent to Short Notice
  • Directors Minutes or Resolution

Select the mceclip8.png icon to change any of the document settings. Different options will appear depending on the document type.

 

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