How to convert shares from one share class to another

If you want to convert existing shares from one share class to a different share class, this article explains how.

Steps needed to take before you can convert to another share class. 

Before shares can be converted, the share classes that you want the shares to convert to will need to be added on Capdesk (if not done already). To learn how to add a new share class.

 

1) Share Conversion

How to Convert

  • Now to convert shares, proceed to Shares (under Ownership) -> Transactions -> Shares (Green Button) -> Convert Shares.

Conversion

Choose Stakeholder

  • Click on the existing stakeholder that you would like to convert the shares.  

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Fields Required 

  • Share Class From
  • Share Class To 
  • Date of Conversion
  • Quantity 
  • Price Paid per Share

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If you do not wish to use the same currency as the share class for this price paid, simply untick the box and choose the correct currency from the dropdown list. If there is no price paid to the conversion then enter 0 as the price per share.

 

Documents 

  • Any documents regarding the conversion can be added by click on Documents -> Add document. 

Once all the details have been inputted, this can either be saved as a draft or published.

Publish and Notify the shareholder is only an option if your Capdesk account is live.

 

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Once this is done, the conversion will be recorded in the list of share transactions.

Editing the Conversion

  • Click on the action button (...) -> edit.

You can only do this if you saved the conversion as drafts.

 

Edit - conversion

View Conversion

  • Once you are happy with the share conversion, click on 'conversion' to view further details and to find any notes or documents that may have been attached.

 

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Captable View

  • To view a summary of what the the share conversion has done to the total amount of shares a stakeholder owns, go back to the Cap Table (under Ownership) and click the arrow to the left of the stakeholders name. 

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If you need further assistance, you can reach out to us by submitting a support ticket here.