Form with which a corporation may alter the amount of outstanding shares issued by the corporation.
Change Class Of Shares In Cook
State:
Multi-State
County:
Cook
Control #:
US-0034-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
When creating a new share class, the two documents you will need are: Board Resolution: this provides the Board minutes asking the shareholders for permission to create the new share class. Shareholders Resolution: this provides the shareholder approval.
This process is most commonly referred to as a 'redesignation', 'reclassification', or 'renaming' of shares. It involves converting issued shares from their existing class, i.e. 'type' or 'classification', to a different one.
Shares can be converted from one class to another by way of special resolution or by lodging a notice with ACRA. However, non-redeemable preference shares cannot be converted into redeemable preference shares.
The shares of Class A common stock may be converted into shares of Class B common stock at any time on a share for share basis, and several shareholders (A shareholders) will convert their Class A common stock into Class B common stock immediately after the transaction ("initial conversion").
Shares can be converted from one class to another by way of special resolution or by lodging a notice with ACRA. However, non-redeemable preference shares cannot be converted into redeemable preference shares.
Complete and file Companies House form SH08 Upon passing the resolution, the directors must complete form SH08 – Notice of name or other designation of class of shares with the following details: Company registration number. Company name in full. The date on which the redesignation took place.
Complete and file Companies House form SH08 Upon passing the resolution, the directors must complete form SH08 – Notice of name or other designation of class of shares with the following details: Company registration number. Company name in full. The date on which the redesignation took place.
