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 have issued shares directly with Companies House or your accountant we need to know about it for several reasons.
- The cap table needs to know about all the share issues to display correct information
- 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 setup 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 ask you for the names of the shareholders, the number of shares they have received and when they received them.
With this information we can update the details on Vestd to reflect the new share issue and the new shareholders.