Share Transfers in Sky Sec — Certificates, Patterns and Controls

Share transfers in Sky are handled as secretarial transactions under the Shares tab. You create a new transaction, then work in edit mode to transfer shares from one shareholder to another. Sky treats the transfer as creating a new shareholder link record or share certificate record, and the original certificate must be reduced to zero. If a balance certificate is needed, the system can generate it automatically. Where only a portion of the shares are transferred, a balance certificate will automatically be produced.

Transfer patterns

• One-to-many: one existing certificate is split across multiple new certificates until the full balance is transferred. The original certificate is then cancelled.
• Many-to-one: several existing certificates are transferred into one new certificate. The docs suggest this is often best handled by buying back the original certificates and then allotting a new one.
• Split: part of a holding is transferred to another shareholder, and Sky can generate the balance certificate automatically for the remaining shares.
• Actual share transfer: you click New, select the certificate, click Transfer, and allocate the new share certificate to the shareholder in the client file.

Important points

• Before transferring, make sure the opening share position is correct and the share capital class is already set up.
• The transaction can be tracked with statuses, and when it is finalised it becomes locked.
• New certificates created by the transfer can be printed directly from that transaction.

Related videos and guides

• Share Transfer video
• Actual share transfer guide
• Structure of a Secretarial Transaction
• Meeting Tab video