1. To reclassify shares in your share registry, you will need to be logged in and have access as a company administrator to make any changes. From your dashboard, click the ‘Share register’ option from the menu on the left of the page and select ‘Transfer / share issue’.
2. Select 'Create a reclassification' from the transfer types available.
3. Identify the shareholder that you are reclassifying shares for by selecting from the dropdown list under 'Current shareholder'.
4. Select the 'Type of share' to reclassify.
5. Select the 'Type of share to reclassify to'.
6. Enter the transaction particulars, including the number of shares to reclassify and the date of the reclassification. You also have the option to add a supporting document via the upload box.
Any transaction 'Notes' that you add are visible to company administrators only. They are not shared with shareholders.
If you need to create a new share type/class, you can do so from the ‘Share classes’ page, accessible from the menu on the left-hand side of the screen.
7. Once you have filled in the details, click 'Continue' to view a pop up summary of the share reclassification details.
8. Click the 'Confirm' button to complete your share class reclassification, or click 'Cancel' to return to the share issue page and make a correction.
Your reclassification can be viewed in your transaction history and is recorded as two transactions. The shareholder is sent an automated email notifying them of the transaction.