Learn how to change a shareholder's name and update its records in its subsidiaries to reflect the name change!
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, follow these simple steps:
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The first step is to make sure that the shareholder's name change has been recorded in the system - if it has not been, click on the person record name change video for steps on how to effect the change;
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Next, navigate to the profile of the entity for which you would like to change the shareholder name;
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Navigate to the Securities > Shares section down the lefthand side of the screen;
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In the Transactions tab, select + New - a list of various transactions will appear;
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Select the Other transaction from the list of transactions (all the way at the bottom of the list) - a Transaction Type window will open up prompting you to choose between Change to Certificates or Change to Shareholdings;
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Select Change to Shareholdings;
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In the Details tab, fill in the Transaction Date and Resolution Date; if you do not yet have these dates, check off Blank Transaction Date/Blank Resolution Date and fill them in at a later time - note: if you check off Blank Transaction Date, underlines will appear in the documents when you generate them where the dates would have appeared;
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Select the reason for the shareholder name change in the Select Type field;
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In the Shareholding field, select the shareholder whose name you would like to change;
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Select the certificate(s) to be pursuant to the name change;
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Select the person/entity with the new name - you will also be required to enter the Interest of the shareholder, which in most cases would be Legal and Beneficial Owner;
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In the Certificate Issuance tab, confirm the certificate issuance information;
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Review the information you've entered in the Review tab, and then select Confirm;
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Navigate to the Securities > Shares > Certificates tab to view the newly cancelled certificate as well as the newly issued certificate (notice that the Reason for those certificate issuances/cancellations is now Shareholder Name Change);
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Generate the new certificate by selecting the three dots at the far right of the certificate record and then selecting Generate from the dropdown menu;
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Select Registers/Ledgers and generate a share register to attest to the issuance of the new certificate pursuant to the shareholder name change.
Deleting a Transaction and Related Certificate
In the event that you wish to unwind a transaction (delete a transaction and related certificate altogether), follow these steps:
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Navigate to the Securities > Shares > Transactions tab of the desired entity;
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Select the three dots at the far right of the transaction you wish to delete;
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In the dropdown menu that appears, select 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;
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Confirm the deletion, and then navigate to the Certificates tab;
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Select the three dots at the far right of the certificate record you wish to delete;
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Select Delete from the dropdown menu;
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Once this is done, select the red exclamation point at the top right of the screen to open up the Data Integrity Issue and Validate the information - 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;
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You may need to re-issue and repair any predecessor certificate relating to the deleted transaction - to do this, select the three dots at the far right of that certificate record, and then select Repair from the dropdown menu;
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Next, click on that certificate record, navigate down to the Issuance tab, and select Issue in the bottom right-hand corner.
Video Instructions: