It is easy to allot Shares following a Rights Issue using Inform Direct?
1. Go to the Share Classes tab and click on the blue 'Allot new shares' button
2. From the options presented select 'Allot shares under a rights issue' and click Next.
5. This will start the Rights Issue wizard.
Enter the Date of Allotment, choose the share class from the dropdown list (if more than one) and the Basis of the rights issue.
Note: Inform Direct will calculate the total number of new shares being offered.
Choose from the dropdown list whether the new shares are:
- Fully paid
- Partly paid
- Nil paid
and the amount payable for each new share.
6. Inform Direct will then calculate the number of new shares each shareholder is entitled to based on their shareholdings at the date of the allotment.
Shareholders do not have to take up their full rights so you can reduce the number taken up where appropriate. You can then increase the number taken up for other shareholders where they are taking up those not wanted by others.
Note: The total number of shares taken up cannot be more than the total possible under the rights issue.
7. Once any adjustments required to complete step 6 have been completed the final step of the Rights Issue wizard is to report the allotments electronically to Companies House.