Consolidation

  • Updated

Overview

When there is a consolidation of shares, the company changes the structure of its share capital by reducing the number of shares originally issued and increasing the par value of each. The class of shares and the total value of shares issued remain unchanged.

Example: Jenny Quantum has 100 $1 Ordinary shares (overall value of $100) which will be consolidated into 50 $2 Ordinary Shares (overall value of $100)

If a consolidation takes place, the changes must be recorded on your own share register and included in your next company annual return. 

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 Consolidations

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Instructions

CAS 360 will display the Consolidations screen

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Field

Explanation

Transaction Date

Input the date of the consolidation

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 to be consolidated

Input the relevant number of shares to be consolidated

Number of shares after consolidation

The amount of shares must be less than the amount in the number of shares to be consolidated field

Meeting Status

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

Notes

Add extra notes in relation to the Consolidation

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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 mceclip8.pngCAS 360 will display the Document Production screen and automatically select the documents required

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

Select the mceclip9.png icon to change any of the document settings. Different options will appear depending on the document type.

 

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