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How to complete a Share Reclassification within the Share Register?

Article ID
ias-11689
Article Name
How to complete a Share Reclassification within the Share Register?
Created Date
25th June 2014
Product
IRIS Company Secretarial
Problem
How to complete a Share Reclassification within the Share Register?
Resolution
A share reclassification is when the registered capital before and after remains the same for example (using £100 as the figure): – Number of shares stays the same; and – Nominal value stays the same EXAMPLE: – Before = 100 Ord A £1 shares – After = 100 Ord B £1 shares Please complete the below steps to complete a Share Reclassification. 1. Select Edit | Share Register 2. Select Events | New | Select Share Reclassification | Select Add Type – create the new class of capital | OK 3. Enter the Reclassification taken place on date 4. Select the existing class of capital on the left hand side 5. Enter the capital reclassified 6. Select the new class of capital on the right hand side 7. Enter the capital reclassified 8. Select OK NOTE: Select NO, to allocate the shareholdings manually on the Reclassification Transactions Take up screen.

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