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How to enter a Share Reclassification?

Article ID
ias-6308
Article Name
How to enter a Share Reclassification?
Created Date
16th May 2008
Product
IRIS Company Secretarial
Problem
How to enter a Share Reclassification?
Resolution
1. To Enter the new class of capital in the Share Register, select – Edit | Share Register | Share Types| New| Enter the new class of capital. 2. Go to your Events tab and select New| Share Reclassification. 3. A Reclassification screen will appear, you will need to enter in the date for the share reclassification in the top box. 4. On the left hand side you will tick the class of capital which is getting reclassified. If the whole amount is not being reclassified in the Capital Reclassified box enter in the amount being re-classed and un-tick the Disc box. 5. On the Right hand side screen you will tick the new share type that it is being reclassified to; the system will fill in the remainder details for you (alternatively you can enter the number of shares to be re-classified). 6. Enter the Authorised Designation and select ok. 7. Iris will then prompt a message: Do you want to automatically allocate the shares?’ 8. If you do not want the system to automatically re-class the shares to the system choice select NO to the next message. This will allow you to manually select the members and individually allocate the number of shares that will be reclassified once completed select post to complete the re-classification.

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