Managing share allocations

Increasing the total number of shares

Before increasing the total number of shares in your company, you need to find out:

• whether the increase is the result of a share issue, conversion or subdivision of shares
• how many shares are being added to your shareholding
• the date of the issue of the new shares, and
• details of each shareholder or share allocation to be added.

In some circumstances you may need to provide a director's certificate supporting an increase in shares or share issue under Sections 47 and 49 of the Companies Act 1993.

Decreasing the total number of shares

Before decreasing the total number of shares in your company, you need to find out:

• whether shares are being acquired, purchased, redeemed or consolidated
• how many shares are being either acquired, purchased, redeemed or consolidated
• the date of purchase, redemption, consolidation or acquisition, and
• details of each shareholder or share allocation to be removed.

Authority to update your shareholding

To update details of your company's shareholding you must have:

• a RealMe® login
• an online account with us, and
• confirmed authority with us.

How to increase or decrease your total shares

To increase or decrease the total number of shares, log in to your online services account, enter the company name, company number or New Zealand Business Number (NZBN) and follow these steps.

1. On the Company summary screen select the Shareholdings tab.
2. Select the Update details button and select Continue on the Acknowledgement screen.
3. Under Total number of shares select Change.
4. Select the type of change you want to make:
   • Increasing shares — Share issue, or Conversion or subdivision of shares.
   • Decreasing shares — Acquisition, purchase, redemption or consolidation of shares.
5. (Optional) Enter the terms and the date of the share issue.
6. You'll be prompted to provide details of any share increase or decrease, depending on which option you've selected, but all fields marked with an asterisk are compulsory. Select Continue.
7. Once you've been returned to the Update shareholdings screen, you have the option to Upload a director's certificate — select Browse or Choose file to do this.
8. Once you've increased or decreased your total shares, the next step is to update your share allocations.

Updating, adding or removing a share allocation

You must update your company's share allocations when you:

• increase or decrease the total number of shares available in the company
• add or remove shareholders from an allocation
• add or remove a share allocation.

Other guides in

Keeping company details up to date

• Getting a copy of your company information
• Updating company addresses
• Updating a director's details
• Registering the appointment of a director
• Updating a shareholder's details
• Changing the name of a company
• Adding, amending or removing a company constitution
• Changing your financial reporting month
• Adding or updating additional NZBN information
• Applying for a correction to the register

Other help topics