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Changes to Authorised Share Capital

 

In the rare situation where a change to the default authorised share capital is required, the link as highlighted on the pre-registration details page should be used.

Visitors are then presented with a screen as shown here which details the description of the share (its class) the currency, the total authorised share capital (in value terms), the number and the nominal value for each.

It is recommend that the first two items are never changed unless you are experienced in the matters pertaining to share descriptions and the acceptable currencies they can be denominated in.

With regards to the remaining three boxes, the rule is that the value per share multiplied by the total number must equal the authorised share capital.

The default shows that 1 multiplied by 1000 equals 1000.

Thus if the number of shares is increased to 10000 and the value remains at 1, the authorised amount must be changed to 10000 (1 multiplied by 10000 must equal 10000)

Considerations

Please be aware of the difference between authorised and issued shares. See the following article for further guidance.

Having a large amount of authorised shares does not mean that all of them must be allotted either immediately or at any stage in the future.

It does however give the owner the option to do so whereas if the setting the figure to a small amount might mean that the limit have to be increased at later date in order to make an additional issue of shares.

Generally, it is far better to have a high figure and the flexibility for the future rather be restricted and have to undertake the more time-consuming procedures of raising minutes, resolutions and so on in order to authorise further shares following a decision to make an issue.

When you are confident that you have entered the correct amounts click the continue button to return to the pre-registration details page.

 
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