from $550 (INCL GST)
Subject to the governing documents, a company may convert shares from one class of shares to another. Section 246F(1)(b) of the Corporations Act 2001 states that a company must lodge notice in the prescribed form following “a conversion of shares in a class of shares in the company into shares in another class.”
In order to notify ASIC of this change, a Form Notification of division or conversion of classes of shares will need to be lodged. In order to avoid late fees, this form will need to be lodged within 14 days of the date of the conversion and cannot be lodged online.
We can help to convert issued shares to another class by providing the following key activities:
- Shareholder Approval: we will help to prepare all necessary documents for meeting notices and minutes of resolution.
- Update the Share Register: we will help to prepare forms and the share register
- Issue New Share Certificates
- Notify and lodge with ASIC with the appropriate form/s
We can assist you with Cancellation of Shares issued in your company.
Depending on the type of cancellation, generally we provide the following:
- Preparation of appropriate ASIC forms
- Notice of meetings
- Members' resolution (as required)
- Directors' resolution (as required)
- Members register (as required)
- Allotment journal (as required)
- Share Certificates (optional extra)
How long does the Conversion of Shares to Another Class take?
Generally, between 1 to 4 weeks. This depends on the matter complexity. Patricia Holdings staff will contact you upon receipt of the order and advise an expected timeframe and prepare a quote for you.
How much does the Conversion of Shares to Another Classcost?
Starts from $500 +GST. This depends on the matter complexity. Patricia Holdings can provide you with an accurate, obligation free quote for your consideration.
