How to add shareholders (Issue/transfer shares to a new allocation OR add parties to an existing allocation)

Unlike when adding profiles for company directors, shareholders cannot be assigned by simply entering their profile into a company's Associated Parties or Admin tab and assigning their role with a tick-box. Instead, the shareholder role is assigned by being included in a share allocation (either individually or jointly held). This can be achieved by adding the individuals, companies, or trusts to either a new or existing share allocation.

Contents

1. Add a shareholder to a new share allocation

2. Add a shareholder to an existing allocation

 

 

Add a shareholder to a new share allocation

1. Navigate to the Company Workspace>Shareholders tab

2. Determine if the shares are being either:

  • Newly issued
    OR
  • Transferred from an existing allocation

3. Select the I would like to... button and then select either:

  • Issue shares to new allocation
    OR
  • Transfer to new allocation

4. Complete the subsequent Share Issue / Transfer form with the details of the transaction.

Important - Use the "Existing contact" search to look up individual, company or trust shareholders with profiles already loaded in your firm. If the entity appears in the list simply add them to the share allocation. This prevents creating duplicate profiles.

If the entity doesn't appear when searched for in the Existing contacts the select from NZ company, Other person or Other organisation above the search bar and complete the required details.

5. Select Create when all parties have been added to the allocation.

Note:

  • You can add multiple parties to an allocation. Simply continue searching for parties after selecting add.
  • Connectworks provides precedents to help firms easily generate the documents required to authorise a share issue or transfer. Read more in our article Using Connectworks Precedents.

 

Add a shareholder to an existing allocation

1. Navigate to the Company Workspace>Shareholders tab.

2. Select the Allocations tab at the top of the page.

3. Select the tick box of the allocation to have a shareholder added. 

4. In the slide out panel which appears select change.

5. In the subsequent Change Allocation Parties form search your Existing contacts for the new member of the allocation. Add them to the allocation from the list below.

If the entity doesn't appear when searched for in the Existing contacts the select from NZ company, Other person or Other organisation above the search bar and complete the required details.

6. Select Update when all additional parties have been added to the allocation.

Note:

  • You can add multiple parties to an allocation. Simply continue searching for parties after selecting add.
  • You can remove any outgoing parties at the same time (or remove parties added in error).