Enhance Securities management by defining a new Class to streamline future issuance processes.
Overview
Creating a Class involves defining its fundamental characteristics, restrictions, and certificate details. This process ensures that Securities issued under that Class adhere to specified parameters.
Availability: All customers.
Create a New Class
Navigate to the Securities section within an Entity record
Select the Classes tab and click the blue + New button on the top right corner of the screen
Select New Class from the dropdown options
Class Modal
In the Class modal, select the applicable Status using the dropdown on the top right corner (defaults to Confirmed) and fill in the Settings, Restrictions, and Certificate sections.
Settings
Select the mandatory Capital Type* (Shares, Cash, or Percentage)
Enter the mandatory Created Date*
Enter a Removal Date if the Class status is set to Inactive (Note: Format dates manually as YYYY-MM-DD)
Provide the mandatory Class Name*
Input the Certificate Code*
(Note: The asterisk (*) is replaced with the next number sequence when issuing Certificates)
Specify the Authorized Amount or check the Unlimited box
Enter Votes Per Share* or check the Has voting rights box
Check the Class is a Series box if applicable and select the respective Parent Class
Fill in other relevant information as required, such as Option Code, Warrant Code, Par Value, and Currency
Restrictions
Indicate if the Class Has Special Rights/Restrictions
Note: Redemptions (Convertable, Retractable, Redeemable) and enter the Redemption Price, Currency, and Redemption Description
Select Transfer Restrictions (Tag along, Drag along, Right of first refusal, Vesting, or Other)
Define the Dividend type (No dividends, Allow Share dividends, Participating, or Others)
List Special Rights (Participating upon dissolution or Lien)
Certificate
Select a Certificate Template
Choose a Certificate Color
Enter a Legend
Input Share Terms by clicking + Add
Click the blue Create button at the bottom right-hand corner of the screen to finalize the class creation