Inform Direct makes transferring shares easy.
What's the difference between allotting shares and transferring shares?
1. Go to the Shareholders tab. This will show you all existing shareholders.
2. Find the shareholder who will be transferring shares, i.e.the seller or giver of the shares. Click on the pencil opposite their name and choose 'Transfer shares'.
Note: If the shareholder holds more than one type of share, there will be a separate line and separate pencil for each class of share held.
3. Insert the date the shares are being transferred.
4. Enter the number of shares being transferred. If they are all being transferred, click the box marked 'All'.
5. Enter the Consideration. This is the total amount being paid for the shares. If it is a gift enter '0'.
6. The system will now ask you who the shares are being transferred to. Select 'Individual'.
How do I transfer shares to a corporate?
How do I transfer shares to joint shareholders?
7. In the next window, start typing the Forename or Surname of the person you are allotting shares to, this will check for records of existing people from your portfolio of companies. See How do I select an Existing Person?
Note: The Green icon next to the shareholder name indicates that it is the shareholder record from within that company. Those without a green icon relate to another company.
8. Enter Shareholder Details. The address entered here will be shown on the share certificate and any dividend vouchers. An email address is optional.
Note: Inform Direct does not send any emails to a new shareholder.
9. Now, enter whether a Shareholder Designation is required.
Note: This is very useful if the shares are being held on trust or by a pension fund. Type in exactly what you would like to see appear including, if required, the word 're'.
10. Before submitting the transfer you will be asked if approval is required, this allows you to create a summary document to be approved prior to completing the action.
How do I prepare draft documents to transfer shares?
Note: The approval feature is only available to subscribers of the software, please see What are the benefits of subscribing to Inform Direct? Pay as you go users will skip straight to step 11 below.
11. Once you click the 'Complete' button, Inform Direct will then process the transaction.
As part of the transaction a populated stock transfer form can be created, please see Where should I send my completed stock transfer form?
Note: Inform Direct will work out which form you will need. You can also find blank J10 and J30 forms in the template library.
12. You can then return to the list of all the shareholders or produce a new share certificate for the allotment just made.
How do I create share certificates?
13. If the person transferring their shares still has a balance holding they may need a balance certificate.
How do I print a share certificate?
When do I need to produce a balance share certificate?
Note: Share transfers are not submitted to Companies House. If you need to show the share transfer on the public record then you will need to submit a confirmation statement.
When will Companies House update their records for a share transfer?