Overview
The return of capital is when some of the consideration the shareholder had previously given is paid back to them.
Example: Jenny Quantum was allotted 2 $4 ordinary fully paid shares (total value $8). After the return of capital, Jenny was returned $4. Jenny now holds 2 $2 ordinary fully paid shares.
Navigation
| From the Main Toolbar, go to Company | |
| Select the Company from the list | |
| Select Shareholders |
Click Add Transaction +
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 | 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 affected |
| Total Amount of Share Capital returned | Amount returned to the shareholder. Cannot be an amount more than the value paid on the shares. |
| Total Amount of Issued Share Capital | Enter the amount payable for issued share capital in decimals. |
| Total Amount of Paid Up Share Capital |
Enter the amount of paid up share capital in decimals. For changes to partly paid shares, click here. |
| Capital Reduction Type | Select the capital reduction type. Choose between Multiple shareholder company, or Single shareholder company |
| Meeting Status | Select the meeting status of the member which will display on the Members Minutes |
| Notes | Add extra notes in relation to the Return of Capital |
| 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 |
Click Save
Forms Prepared
By selecting Prepare Forms CAS 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
- Members Consent to Capital Return
Select the icon to change any of the document settings. Different options will appear depending on the document type.