Generating a Share Transfer Form
It is possible to auto generate a share transfer form in Connectworks. The transfer must be preemptively recorded in the company's Shareholders section in order to generate the form. The transfer can be future-dated as required.
An alternative process for generating this document is to download it as a precedent, however this method will require users to manually complete the details of the transfer.
Pre-record the share transfer
This article explains how to transfer shares to new or existing shareholders. A transfer is when shareholder sells (or is required to transfer) shares to another shareholder.
1. To begin issuing shares navigate to the company's workspace, then to the Shareholders tab.
2. Select "I would like to..." then "Transfer shares"
3. In the Transfer shares form complete the details:
Date of transfer
Seller of shares - select from the drop down menu.
Class of shares
NB. if the desired share class does not appear you will need to create a new class of shares. Exit out of the form and select "Create a new class of shares" from the "I would like to..." menu.
Share price & quantity
In this section you can select from three different methods of calculating the share value & quantity of shares being purchased.
Price per share & number of shares issued will calculate the the total value of the issue.
Price per share & total value of the issue will calculate the number of shares being issued.
Number of shares issued & total value of the issue will calculate the price per share.
Buyer of shares
To transfer additional shares to an existing shareholder/allocation simply select the relevant party from the dropdown menu.
To transfer shares to a new shareholder/allocation select the create a new shareholding option, then search your existing contacts for the person/entity.
If no results appear, select Other person or Other organisation and complete the new shareholder information.
Multiple individuals can be assigned to a single share allocation in this form by simply continuing to search & add parties to the allocation.
Nature of holding - select if the share allocation is held by singular/joint parties or by a trust. If the allocation is held by a trust or company you may also wish to give the allocation a name.
4. Select Create in the top corner to complete the share transfer and exit the form, or Create and add another to continue transferring shares to other parties.
After the share transfer has been saved, the transaction will be recorded in the transactions gallery and the allocations will be updated.
Generate the share transfer form
After recording the share transfer, the form to authorise the transfer can easily be generated. To do this:
1. Navigate to the Company workspace>Shareholders tab>Transactions tab
2. Select the tick box of the relevant share transfer.
3. In the "..." menu select Transfer Form
4. The form will then be downloaded to your computers hard drive in PDF format.
After checking it's accuracy it can be uploaded to Connectworks and distributed the parties for signing. This process is explained in our article Distributing Documents for Signing.
It is important to note that if the transfer is not completed, the pre saved transaction must be removed from the profile.