Reclassification of shares

The reclassification of shares (also known as re-designating or conversion of shares) is the process of converting issued shares from one class of shares into another. This can be an existing share class or a new share class.

These different share classes can then be used to pay different dividends to individual shareholders or alter voting rights without affecting capital rights etc; or in more complex arrangements converted into different types of preference or redeemable shares.

A redesignation of shares is frequently accompanied by an alteration of the rights attached to the newly reclassified shares. For example, newly created A & B shares may have different rights to dividends or capital on a winding up.

Our service includes everything required to convert existing share classes into new share classes, all fully completed, compliant and delivered in hard copy and/or electronic copy (forms for Companies House must be filed in hard copy for new share classes), including:

• Completed forms re amendments to existing share class rights for registration with Companies House
• Completed forms re re-designation of share classes for registering with Companies House
• Shareholder consent to Resolution
• New company Articles of Association with resolution
• All appropriate minutes and notices
• New shares certificates (consolidated and numbered)
• Complete, full set of updated company registers
• 2 bound copies of new company Articles of Association (if hard copy documents requested)

It is also important that PSC (Person of Significant Control) details are kept up to date on the company registers and with Companies House. We will make sure that all required PSC updates are completed and filed as part of our service.

This service can be combined with any other company secretarial jobs required. Please click below to purchase this service or to purchase this with any other secretarial service.

Our normal charge for the reclassification of shares is around £240. All companies are different, so we will need to look at the complexity and history of the company to make sure that the service can be completed as efficiently as possible. Please click on our quick quote below and we will be in touch as soon as possible with a no-obligation quote.