Vestd provides you and your company with a quick, simple and compliant way to issue equity, but we also understand that you might not always be able to use Vestd for issuing new shares.
If you or your accountant have issued shares directly with Companies House we need to know about it for several reasons:
- The cap table needs to know about all the share issues to display the correct information. This capital data is often used during filing on your behalf at Companies House without up to date data this will be inaccurate.
- Vestd sends out resolutions for share authorisations and for company updates, we need to have an accurate list of shareholders to send this to and to know when a resolution has had enough votes to pass.
- When authorisations are set up we display details about how much of the company the authorisation will represent, without an accurate list of shareholders this will be inaccurate.
When new shares are issued Companies House tells us through the SH01 allotting the shares. Unfortunately this doesn't include enough information - so if we detect a share issue has taken place we will place the platform in read only and email a link to a page on Vestd where you can enter share issues relating to an SH01.
Alternatively, at the top of your Home page within Vestd you will see an information box, which contains the links to record the details.
Whichever route you take, you will be asked to record the share issue(s) relating to this allotment. For each share issue, we'll need to know who it was to and how many shares were issued. For an existing shareholder, simply select their name from the list. A new shareholder can be added here too - we'll ask you for their name and email address.
Once the total number of shares from the share issues matches the number of shares in the allotment, you're all done. Vestd is up-to-date with your company's cap-table and shareholders.
Once you have completed the update, please contact support@vestd.com so that we can get you out of read only.
Our team, content and app can help you make informed decisions. However, any guidance and support should not be considered as 'legal, tax or financial advice.'