Once you have Authorised a Share Pool on the platform, you are ready to distribute those shares.
First, log onto the platform, and go to Dashboard on the top left of the screen.
Then, under Ordinary Shares, click View & Distribute:
Here, click Distribute Ordinary Shares:
Which will take you to this page:
Here, you will first need to give this distribution a name, and choose a shareholder from the drop-down list.
If you are distributing to a new shareholder, select the appropriate option from the "Individual or company" drop-down and enter their name and email address:
No one will get emailed just yet, this is just for our records.
Once you've chosen a shareholder, scroll down down to the Shares section:
Here you will have to select:
- Share Authorisation: this is the share pool you want to issue these shares from;
- Number of shares to be offered to this shareholder;
- Price paid per share;
The first optional bit is the Date agreed/issuance date:
If there is already a particular date on which the shares were issued, like an Investment Round, then enter the date of this round here.
If this Date section is left blank, then the date on the share issuance will default to either: the date the shareholder accepts these shares, or the date that you issue them (Depending on what you choose later. Don't worry, it's all explained further down).
All of this can be edited again on the next page, it's not set in stone so don't worry if you're unsure for now.
From the Date section, scroll down, and you will see four more Optional bits. These are rarely used:
The Non cash consideration is anything else that you may have exchanged for the shares, other than money.
The Comments are there as a catch-all field for any notes you want saved.
The Criteria and File are there in case there are conditions to the shareholder receiving these shares.
Again, the last four Optional bits are rarely used, so don't assume that you need any of these filled in.
Once this page is filled in, click Save as draft in the bottom left of the page. You can still Edit and Delete everything later.
That will take you to this page:
From here, you can click Edit in the top right of the summary box, which will take you back to the previous page in case you need to change some of the details.
Below the summary box, you can also click Send Invite, which will send an email to the shareholder asking them to accept the offer. You can preview the email they will receive by clicking the grey Preview button.
Remember: if you have left the Date blank, the date that the shareholder accepts this distribution will become the date of the issuance. If this distribution is from a particular date, like an Investment Round, click Edit to go back to the previous page, and enter this date in the Date agreed/issuance date section.
If you have Criteria documents to upload (those rarely-used ones), click the Upload link in the Criteria Documents box on the right of the page.
Clicking the Issue Immediately button will issue the shares without the recipient having to accept. They will not get an email alerting them of the issuance, but all of the relevant forms will be sent to Companies House.
Finally, if it's all a mess and you want to scrap the whole thing, scroll to the bottom of the page and click the big red Delete button:
Congratulations! You've issued shares through Vestd, now all of the Share Certificates and SH01 forms will be taken care of automatically.