 |
 |
|
|
Introduction
This topic explains how to enter a purchase of own shares within the Share Register. This function is available within the Accounts Production, Company Formations and Company Secretarial modules.
Select the Events tab.
Click New and select
Purchase own shares from the
drop-down list.
The following screen displays.
Select the Share type from the drop-down list.
The Currently issued and Expected price fields will be automatically populated.
Select Discontinue share type after buy back if applicable. (This is optional and will discontinue the share after the purchase of own share event.)
Complete the Buy back field.
Click into the Description field. (This field will automatically populate.)
Enter the relevant date in the Shares on field.
Select the Out of capital option. This option will activate the Permitted out of capital field.
Enter the amount of capital that was used in the share buy back in the Permitted amount of capital field.
Select the Log buy back option to record the event in the client’s history. This option will activate the SH03/SH06 Form with the relevant information.
Select the Authoriser Designation from the drop-down list.
Click OK.
Where the number of share bought back is equal to the number issued
then the following screen displays.
Click Yes
to automatically buy back all shares. Follow steps 15
- 16.
Alternatively, select No to
manually enter the shares sold back to the company. Follow steps 17 - 22.
If Yes to automatically buy back
all shares is selected the following screen displays.
If No to automatically buy back all shares is selected the following screen displays.
Double-click on the relevant
shareholder.
The Sell back and At field
will automatically populate with the selected shareholders total holdings,
however the value can be changed according to the specification.
Enter date the transaction took place between selected shareholder and the company in the shares on field
The Payable field is automatically populated. It displays the total price to be paid by the company for the purchase of shares. It is worked out by the number of shares entered in the Sell back field multiplied by the price per share entered in the At field
Enter the actual value of the share paid by the company for the shares in the Paid field.
Enter the relevant date in the Date Paid field.
Complete the Ref: field (This field is optional).
Click Post.
If further transactions are to be entered repeat steps 17 to 22 for each shareholder.
Click Close.
The following screen displays.
Click Close.
The Share Register displays, click Close.
