When there is a subdivision of shares, the company changes the structure of its share capital by increasing the number of shares originally issued and decreasing the par value of each.
Therefore the value of each individual share is decreased and the number of total shares is increased. The class of shares and the total value of shares issued remain unchanged.
|From the Main Toolbar, go to Company.
|Select the Company from the list.
CAS 360 will display the Subdivisions screen.
|Input the Date of Subdivision
In the shareholder field, CAS 360 will display a list of the company's current shareholders
|CAS 360 will automatically prefill this field if there is a beneficial owner.
In the Share type field, CAS 360 will display a list of the share types the shareholder holds
Number of shares to be subdivided
|Input the relevant number of shares
Number of shares after subdivision
|The amount of shares must be more than the amount in the Number of shares to be subdivided field
|Select the meeting status of the member which will appear on the Resolutions.
|Click to add extra notes to appear on the Register of Members
CAS 360 will display the Document Production screen and automatically select the documents required:
- Registers – Members
- Directors Meeting Minute or Resolution
- Allotment Journal (optional)
- Share Certificates
- Members Meeting Minute
- Members Consent
- ASIC Forms – Resolution regarding shares Form 2205
NOTE : FORM 2205 cannot be lodged electronically and must be lodged on paper