This article explains how to create and manage share classes. A share class is a group of shares which bestow the same set of rights on their holders. A company can have more than one class of shares with different sets of rights. A share class needs to be created before you’re able to issue shares from that class.

How to Create a Share Class

1. Navigate to the company's workspace, then to the Shareholders tab. 

2. Select "I would like to..." then "Create a new class of shares".

3. Complete the details on the Create class of shares form:

Name of class

Type of class - Select Ordinary, Preference or Other from the dropdown, and enter it's seniority over other classes (ie. it's rank/preference on liquidation - 1st, 2nd, 3rd etc...).

Date of Approval

Voting rights - complete the number of votes per share and select the applicable tick boxes. Enter any supporting notes if required.

Restrictions - complete any details of restrictions that apply. These can be:

• Restrictions on share transfers 
• Restrictions on general rights
• Restrictions on dividends
• Restrictions on distributions 
• Other restrictions

4. Select Create to save the class of shares. You can then select this share class when completing a share issue.

How to Edit Share Classes

1. Navigate to the company's workspace, then to the Shareholders>Share classes tab.

2. In the subsequent form, all details relating to the share class can be amended and then saved by selecting the Update button in the top right corner.