AMENDMENTS OF SHARES (ALLOTMENT)
Clients are able to make amendments (allot, split and transfer) of shares via SLEEK platform. In this article, it provides the step-by-step guide for the allotment of shares.
- On the left tab, click on "Requests". Proceed to "I would like to amend my company structure" before clicking on "Create a New Request".
- If applicable, Click on "+ADD NEW SHAREHOLDERS"
- This will pop-up "No. of new shareholders". Indicate the number before clicking on the "Add" button.
- A pop-up on upgrading the company's Corporate Secretary plan may appear as prices are based on the total number of shareholders in the company. To learn more of the pricing, please click this link.
To confirm, click on "YES, ADD SHAREHOLDERS"
- Fill in the particulars and click on "SAVE"
- The new shareholders will be seen as NEW on the list.
Next will be the Capitalisation Table (Cap Table) which is a detailed breakdown of the company’s shareholders’ equity. To proceed with it, click on "PROCEED TO CAP TABLE"
- Click on "+ADD SHARE CLASSIFICATION"
- Click on share class (i.e. Ordinary) to list down the shareholder details, users will see a "X" icon indicating no amendments have been made. Below are two examples of allotments:If new share classification is been selected, there will no existing shareholders details
The new number of shares/new total price of shares should include the existing no. of shares/existing total price of sharesInput the desired number of shares and amount
- The first example is to allot additional 1000 shares valued at $10K as per the table below:
The new number of shares / new total price of shares for existing shareholder should be equal to the current number of shares/current total price instead of 0.Input the desired number of shares and amount
- The second example is to allot new shares to new shareholders. Below table indicates 100 additional shares value at $10K with no changes to existing shareholder.
- A green tick has appeared to indicate that the input is successful. Click on "SAVE"
- Indicate by ticking on the preferred method to increase share capital / allot shares. Once you select, you have the option to either:
- Upload Required documents
- By Cash: Proof of Remittance
- By Capitalisation of Loan: Latest Financial statements or Management Accounts
- By Contract in Writing: Contract prepared by lawyer
- Skip for now - Sleek will follow up on the required documents after the request is submitted.
- Upload Required documents
- Select on your preferred method of payment and click "PAY NOW"
- Sleek will receive the request and work on it.
Do take note on the following prompts
- Draft will be saved and you will be able to come back to complete the request.
- Confirmation of the removal of shareholders.
- If there are no shares allotted in the new share structure
- When existing shareholders have been configured to 0
- When there is no upgrade needed when new or existing shareholders have 0 shares configured.
- When a downgrade is needed when new and existing shareholders have been configured.