Issue shares (allot new shares)

This guide explains how to issue (or allot) new shares using Kudocs.  You can use this process to handle all elements of a share issue including getting authority to issue, pre-emption (run or disapply), subscription agreements, deed of adherence to a shareholder agreement, payment, board approval, share certificates, EIS/SEIS and Companies House filings (SH01).

The action is available via:

  • Quick action list in Company Dashboard
  • Quick action list in Shares & Shareholders
  • All actions.

You can use either the Perform or Record route.

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Perform route

Select this route and Kudocs will help you complete all the necessary steps for this action.
Step 1

Pre-issue preparation

More detail
The first part of the process will guide you through:
- what class and the number of shares you want to issue
- if you need authority from existing shareholders to issue the shares (including running a shareholder ordinary resolution to approve) and
- if you have pre-emption rights and how you want to handle them (disapply by special resolution or run a pre-emption process).

Once this is complete, you can proceed to the share issue itself.
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Step 2

Add details of the shareholders who are being issued new shares, and deal with any shareholders' agreement & deed of adherence

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Select whether they are existing or new shareholders and provide the necessary information (number of shares, paid/ unpaid/ partly paid, etc.).

Kudocs has a template deed of adherence that you can use, or you can upload your own. When the shareholder confirms their subscription for the shares (the nest step), they'll also be asked to sign the deed (including the correct witness mechanism for a deed).
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Step 3

Set up the rest of the process for automation by Kudocs

More detail
- Do you want investors to self-certify as sophisticated or high net worth?
- Do you want Kudocs to generate share certificates, if so - with wet or electronic signatures
- Do you want to provide the investors with your payment details (the most important part!)
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Step 4

Press go and let Kudocs do the rest

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Kudocs will email all investors asking them to complete a clear and simple subscription agreement, deed of adherence (if necessary) and confirmation of payment.
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Step 5

Board approves share issue

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Once all investors have confirmed, and the company has confirmed receipt of funds, Kudocs will run the board resolution to authorise the share issue. Once approved, the registers will be updated, Companies House updated, share certificates generated, etc. All the admin done automatically for you to complete the process.
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Record route

Select this route if the legal steps (authority to issue, pre-emption, subscription, deed of adherence, board approval... ) have been completed, but the admin still needs to be completed (update Kudocs, generate share certificates, notify Companies House, etc).
Step 1

Enter details of the investors (existing or new shareholders)

More detail
Provide their details, the share class, number of shares and if the shares were fully paid, partly paid or unpaid.
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Step 2

Add information about the legal steps already completed (for your records)

More detail
You can add notes and documents evidencing the legal steps that have already been completed. E.g. the subscription agreements, deeds of adherence and board approval. This ensures you have a complete record and audit trail of what has happened.
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Step 3

Select what admin you want Kudocs to complete for you

More detail
- Generate new share certificates - if so, electronic or wet signatures
- File SH01 at Companies House
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Step 4

Press Record - all done

More detail
Kudocs will complete all the necessary admin steps to complete the share issue - obtain signatures on & generate the share certificates, update the registers, update Companies House updated, etc. All the admin done automatically for you.
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Outputs - all handled automatically by Kudocs

  • Email sent to initiator informing them of process outcome.
  • Share registers updated in Kudocs.
  • Stakeholder page for each shareholder is updated.
  • Existing share certificates in the class concerned are cancelled.
  • New share certificates generated and distributed to shareholders (if selected).
  • Process information stored in Kudocs for future reference & any documents filed in document store.
  • Form SH01 generated & filed at CoHse if selected.

You can then use Kudocs to generate EIS or SEIS certificates for individual and corporate nominee investors if required.

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