How to Reclassify Shares in Connectworks
This article explains how to reclassify shares existing shareholders.
To enable the Reclassify shares option within the I would like to menu, you first must create additional share classes.
You can create the share classes needed, you do not need to add any shares. When you reclassify the shares, this will update the number of shares.
Reclassify shares
Once you have created additional share classes, the Reclassify shares option will be available within the 'I would like to' menu.
In the Detail of share transfer form complete the details:
- Date of transfer
- Shareholding
- Class of shares being reclassified
- Shares being classified as
- Number of shares being reclassified
- Transaction Status
- Other Information
Select Create in the top corner to save the Reclassify shares and exit the form, or Create and add another to continue Reclassifying shares.
After the share issue has been saved, the transaction will be recorded in the transactions tab and the allocations will be updated.
