When the name of a shareholder (or unitholder) changes, every holding must also be updated to reflect the new name. Name changes are completed in one of three ways:
All three name changes, provide options to complete the name change to the holdings in two ways:
- Globally Update all Shareholdings - this option will automatically update all existing Shareholdings for this entity, no further work is required (unless a Share Certificate needs to be reprinted with the new name)
- Review Shareholdings Within Each Affiliated Entity - select this option if you want to cancel and reissue existing certificates with the new entity name
If the Review Shareholdings option is selected during the name change, then additional work is required for every entity in which that person or entity holds shares or units.
This article reviews the steps to cancel and re-issue certificates following a name change of a shareholder or unitholder.
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Navigate to the entity record for which you would like to change the shareholder name
- Note: you can also leverage the People > Associations or Entity > Associations on the changed record to find all the entities that have active holdings.
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Navigate to Securities > Shares, Securities > Units, or Securities > Ownership (section name will change depending on the entity type and your version of Athennian)
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Click on + New to create a new transaction
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Select the Change to Shareholdings transaction
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In the Shareholder Name Change window, on the Details tab populate the data as required:
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Transaction Date (required) and Resolution Date (should match the date of the name change)
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Select Type to identify specific detail about the change at hand
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In the From Shareholding section click Select Shareholding and in the pop up window, click to select the holder whose name has changed
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The certificate(s) related to that shareholder will appear, click all the certificates you want to cancel and reissue
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In the To Shareholding section, select the Create New Shareholding option and then select if the shareholder is a Person or an Entity
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Click on +Shareholder or +Unitholder to add the holder with their new name
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Search for the holder name, check the box to the left of the holder, and click on Select to populate the transaction
- Confirm or update the Interest
- Confirm or update the Address Type
- Click Next to proceed
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On the Certificate Issuance tab, confirm the certificate issuance information
- The Sort Order, Ledger #, and Certificate Code fields can all be changed as necessary
- Or check the Uncertificated Shares box if preferred
- Click Next to proceed
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On the Review tab, confirm Review the information you've entered in the Review tab, and then select Draft
- Note: in the example above, two certificates were selected on the Details tab, so both old certificates were combined into one new certificate. To keep two certificates, perform the transaction twice, only selecting one certificate each time.
- A Shareholding Name Change transaction will be added to the details as Pending
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Generate any new documents required, such as:
- Registers / Ledgers
- Cap Tables
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Canceled or New Certificate(s)
- To complete the transaction, click to reopen the Pending Shareholder Name Change transaction, and select Confirm in the bottom right to change the status to Confirmed
- Note: one shareholder might hold shares in multiple entities, repeat the steps above for every entity that the shareholder with the changed name holds shares or units