Register a share transfer (sale and purchase)
A sale and purchase is registered from "Add Operation" › "Sale and Purchase". In the first step you enter the date and the deed details; in the second, each movement: who sells, who buys, the class, how many shares, their numbering and the price. Each movement is saved to the list and at the end you click "Save Operation". With "Sale and Purchase AI", Sttok reads the deed and proposes the details to you.
Before you start
- The sale and purchase deed, or the document that evidences it, with its date, notary and protocol number.
- Who sells and who buys. If the buyer isn't a shareholder yet, you can add them from the form itself or beforehand, with "Add Operation" › "New Shareholder".
- Which shares are sold, with their class and their numbering: from share no. X to share no. Y. You'll find it in the register of registered shares or in the record of the selling shareholder.
- The price per share or the total amount.
How to do it#
- Open the form. In Transactions, go to "Transactions List", click "Add Operation" and choose "Sale and Purchase".
- Fill in the document. Enter the "Date", upload the deed in "Add document (optional)", write "Comments" if you want and complete the notary details: "Notary Name", "Protocol Number", "Notary Town" and "Deed Date". Click "Next".
- Describe the first movement. Choose the "Selling shareholder", the "Buying shareholder" and the "Share Class". Below you'll see the seller's "Available ranges" in that class, split between those with an encumbrance and those free of encumbrances.
- Enter the shares. Type the "No. of shares sold" and the range, "From no." and "to no.". Click "Validate range": Sttok checks that those shares belong to the seller. If something doesn't add up, it tells you and you correct it before going on.
- Enter the price. Fill in the price, which is required. In "Price Type" you choose how you enter it: per share, by the company's valuation or by the total amount of the operation.
- Click "Save movement". The movement moves to the operation's list of movements, labelled "MOVEMENTS". If there are more, for example a second buyer or a second seller, repeat steps 3 to 6 for each one.
- Click "Save Operation". The sale and purchase is registered with all its movements.
One movement for each seller and buyer pair. If Marta sells 2,000 shares to Pablo and 3,000 to Inés, that's two movements within the same sale and purchase, each with its own numbering. The numberings can't overlap: the second starts where the first ends.
With "Sale and Purchase AI"#
In the same menu you have "Sale and Purchase AI", a three-step form that can read the deed you upload and propose the details to you:
- The deed. The document, the "Registration date", which is required and is the date of the entry in the register of registered shares, the notarial details and "Comments".
- The transfer. You choose the "Selling shareholder" and, in "To whom, and which shares", the "Buying shareholder", the "Share Class", the range "From" and "To" and the price. Sttok proposes the range to you ("Proposed range"). In the header of the price column you choose how it's set, for example "Price per share". With "+ Add buying shareholder" you add another buyer to the same seller, and with "+ Another selling shareholder", another seller. For each seller you see what they sell, what they have left and their stake, and at the bottom the totals: "Shares", "Of issued capital" and "Amount".
- Review. The whole sale and purchase before you register it.
You move with "Next" and "Back"; "Cancel" exits without saving. We explain how the reading works in Fill in an operation by reading the deed.
What happens next#
- The sale and purchase appears in the Operations list, with its date, the number of shares and the amount.
- The register of registered shares is updated: the transferred shares pass to the buyer's name with the same numbering they had.
- The operation appears in the Transactions tab of the seller's record and of the buyer's.
- Its record shows, in "Details", each movement with the "Selling shareholder", the "Buying shareholder", the number of shares, the numbering, the price and the total.
Frequently asked questions#
What happens if the shares sold have an encumbrance?
An encumbrance, such as a pledge or a usufruct, doesn't disappear because the shares change hands: it stays on them. The "Available ranges" already separate the encumbered shares from the free ones. More in encumbrances on shares.
The buyer isn't in the register of registered shares. Do I have to add them first?
There's no need. You can add them from the sale and purchase form itself or beforehand, with "Add Operation" › "New Shareholder", which opens "Add Shareholder". They don't receive any shares until you register the sale and purchase.
"Validate range" gives me an error and I don't know why.
It's almost always the numbering. Check in the "Available ranges" which shares the seller has in that class and make sure the number of shares matches the range you've typed: from no. 1,001 to no. 3,000 is 2,000 shares, not 1,999.
I made a mistake after saving.
What defines a registered operation, such as the parties and the shares, can't be edited. If it's the last one, you can undo it and register it correctly; if not, it's corrected with another operation. We explain it in Correct a registered operation.
Related
- Register an operation: what each type asks for Every operation is registered from "Add Operation", on the Operations screen. The first step is almost the same for all types: the date, the document, the comments and the notary details. What changes is the second, because each type does something different to the share capital: create or cancel shares, change their owner, distribute money, reorganize them or exchange them for shares in another company.
- Fill in an operation by reading the deed To have Sttok read the deed, choose "Capital increase AI" or "Sale and Purchase AI" in the "Add Operation" menu. You upload the document, click "Read with AI" and Sttok fills in what it says: the dates, the notary, the shares and who takes part. What it reads stays marked until you review it. If you don't want it read, tick "Don't fill in the form with this document".
- Register an inheritance or a gift An inheritance or a gift is registered like a sale and purchase, from "Add Operation", choosing "Inheritance" or "Gift". The form is the same, also for "Endorsement" and "Transfer"; only the names of the parties and of the quantity change. The "Price per share" is required here too, and the numbering of the shares travels with them.
- Encumbrances on shares: usufruct, pledge, co-ownership and option An encumbrance is another person's right over some shares: a usufruct, a pledge, an attachment or a call option. Co-ownership is recorded in the same place even though it is not an encumbrance: the shares belong to several people at once. In Sttok each one is recorded against the specific shares it affects, with its dates and its status, on the shareholder's profile.