1. Go to the Shareholders tab. This will show you all existing shareholders.
2. Find the shareholder who will be transferring shares. Click on the pencil opposite their name. If they hold more than one type of share there will be a separate line and separate pencil for each class of share held. Having clicked on a pencil choose the 'Transfer shares' option. This will start the share transfer wizard which will make the whole process very simple.
3. First of all the wizard will want to know 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 price being paid for the shares. If it is a gift enter 0.
6. Select 'Corporate'. For other options read the related articles:
How do I transfer shares to an individual?
How do I transfer shares to joint shareholders?
7. Start typing the name of the company to whom you are transferring the shares.
8. After you have entered 5 characters, Inform Direct will look for any possible matches with existing corporate officers or shareholders of the company. If the name you want appears you can 'Select' from the suggestion(s) provided. This way you will not have to re-enter any data for the company since it will already be known to Inform Direct. This will then take you to step 12 below.
Note: If the company receiving the shares is unknown to Inform Direct, you will need to click on the green 'Create new shareholder' button and enter the company name and registration number. If the company does not have a registration number it is permissible to enter '00000000'.
9. The email address is optional. Inform Direct does not send any emails to the new shareholder.
10. The address entered here will be what is shown on the share certificate and any dividend vouchers. You can choose from any existing addresses known to Inform Direct or enter a new address.
11. You will then be asked if any designation is required. This is very useful if the shares are being held on trust or by a pension fund. If you would like to add 're Amanda Settlement Trust' or 're 700123' then type in exactly what you would like to see appear including, if required, the word 're'. If no designation is required simply leave the 'No' button ticked and press 'Next'.
12. 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 13 below.
13. At the summary screen, if you are happy that you have correctly recorded all the details, click the green 'confirm' button.
Note: You can press 'show' to see full details of the transfer.
14. Once you click the 'Complete' button, Inform Direct will then process the transaction and give you the option to generate form J10 or J30.
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.
You can then return to the list of all the shareholders or produce a new share certificate. If the person transferring their shares still has a balance holding they may need a balance certificate. See separate article on how to produce share certificates.
15. Inform Direct will automatically update all the statutory registers
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.