When a shareholder changes its name, all entities in which it holds shares are required to update their ledgers and share certificates issued in the name of the said shareholder to reflect the said Name Change.
To change the name of a shareholder, simply go into the Entities tab down the lefthand side of the screen and select the entity for which you will be filing the name change. Once you're in the entity's profile, select Entity Details, and then select the field for the Name of the entity.
The selection of this Name field will open up a new window where you will be able to proceed with the input of the information relating to the change of name of the entity. Enter the entity's new name at the top of the window in the field Enter new company name, and then complete the remainder of the fields. Note that there is a Required Checklist section which will require you to confirm that all of the necessary steps have been taken to change the name of the entity.
Once you select Apply, you will have successfully changed the name of the entity. Below is an example of what the above entity's profile would look like following its name change.
Moving on to the update of the shareholder's name in one of its subsidiaries, to update the shareholder's name in the Securities section of a subsidiary's database, simply select the entity in the Entities tab down the lefthand side of the screen, go down to the Securities section of the selected entity and then select New in the Transactions tab, as is shown in the photo below.
Once you select New, you will be prompted to choose a type of new transaction (see photo below). If you scroll down to the bottom of that window, you will see the option to select an Other transaction, which is described as a Change to certificates and shareholdings. This is the option you would select to change the name of a shareholder.
Once you select Other, you will then be prompted to choose between making a change to the certificates and making a change to the shareholdings. In this case, you would select the second option, as is shown is the image below.
Selecting the Change to Shareholdings type of transaction will bring you to the following Details tab, which is where you would be required to enter the shareholder name change information. Here is how you would proceed in this tab:
1) In the top portion of this tab, enter the effective date of the name change;
2) In the From section of this tab, select the shareholder that has changed its name, and select the share certificates being affected by the said name change; and
3) In the To section of this tab, select Create new shareholding and then select the shareholder that has changed its name. You will also be required to enter the Interest of the shareholder, which in most cases would be Legal and Beneficial Owner.
Once you select Next, the next tab, being the Certificate Issuance tab, will provide you with the information on the new replacement share certificate to be issued, as is shown below.
Finally, by clicking Next again you will be brought to the Review tab which will allow you to review and verify that all of the information you've entered is correct before submitting the shareholder name change.
Once you click Confirm, the transaction will be completed and you will be able to view the cancelled and issued share certificates resulting from this transaction in the Certificates tab of the Securities section as shown below.
Once the transaction is completed, you will be able to generate the share certificate by clicking Generate at the far right of the new share certificate line under the Certificates tab. The following is an example of a share certificate pulled from one of our templates.
Furthermore, you can also generate a new shareholders' register attesting to the new shareholder name change by clicking Registers / Ledgers and Current Share Class in the drop down list, and then selecting the supporting document template you wish to use to generate the ledger (see below).
In the event that you wish to unwind a transaction, simply go to the Transactions tab, select Audit View, and then go to the transaction you wish to delete and click Delete. A Delete Transaction window will pop up detailing what will result from the deletion of the transaction, which will be the invalidation of certain share certificates. You will need to click Delete, and then go into the Certificates section to delete the invalid share certificate.
Once you will have deleted the transaction and related share certificate, you will be prompted to reissue the previously cancelled share certificate. You can do this by selecting the certificate, going into the Issue tab, and selecting Issue.
Once you Issue the original certificate, you will need to click on the hammer icon at the far right of the share certificate line, and then click Confirm.
Finally, the last thing you will be required to do to make sure that the unwanted transaction is deleted from the record will be to select the exclamation point in the red circle beside Registers / Ledgers, and then to click Validate in the top righthand corner of the Data Integrity Issue window that pops up. This will correct the data integrity issue that arose from the deletion of the transaction, and leave you with a clean register of transactions and share certificates!