Introduction
When two or more of your Business Entities/Companies or Non-Affiliates have merged into a surviving entity, run the Merger Wizard to record the details of the merger within GEMS.
The Merger Wizard is called the Amalgamation Wizard if your GEMS business rules are set to Canada.
Find the Merger Wizard
To access the Merger Wizard, open the Wizard Search tab in GEMS.
1. Click the Search Hub. A search bar opens across the top of your page.
2. Select Wizard in the Search GEMS for dropdown, then click the Search button. A list of Data Wizards opens in a new GEMS tab.
3. Locate the Merger Wizard and click its name.
Run the Merger Wizard
Once the Merger Wizard has been found and launched, complete the fields provided by the Wizard on each of its pages.
In the example below, we'll be merging SM Support Services into SM Products and Analysis. As we proceed through the Wizard, that means that SM Support Services is the merging entity, and SM Products and Analysis is the surviving entity.
1. On the Introduction page, click Next.
2. On the Merger Details page, complete the following fields:
Date of Merger - the date on which the merger occurred
Status of Merging Business Entity - the new value to be entered into the Status field for any merging entity which is a Business Entity/Company (in our case, the Status field for SM Support Services is what will eventually be updated)
Merger Description - a text field in which you can describe the details of the merger
Merger Type - a text field in which you can classify the merger
3. Additionally, complete the following optional fields as desired or needed:
Status of Merging Non-Affiliate - the new value to be entered into the Status field for any merging entity which is a Non-Affiliate
Decrease of current Share Capital balance - tick this box to decrease the share capital balance for all merging entities
Cancel certificates and dispose of balance transactions from merging entities - tick this box to cancel stockholder/shareholder transaction certificates and dispose of any shares held by stockholders/shareholders.
Resign Officials from merging entities - tick this box to resign all appointees from merging entities and provide them with a resignation date equivalent to the value entered in the Date of Merger field
Copy subsidiaries from merging entities to surviving entity - tick this box to copy all subsidiaries from the merging entities over to the surviving entity
Archive Merging Entity - tick this box to archive the merging entities upon completion of the Wizard
Close NAICS Codes in the merging entities - tick this box to close NAICS codes in the records of the merging entities
Click Next after completing the necessary fields.
If you ticked the box for Cancel certificates, a green warning message will appear after you click Next. Read the message, then click Continue.
4. On the Surviving Entity page, enter the surviving entity (the entity that all merging entities are merging into). In our case, we'll enter SM Products and Analysis.
5. On the Merging Entity page, enter all merging entities. In our case, we'll only enter SM Support Services, but multiple entities can be selected at this stage.
6. On the Merging Entity List page, review the list of merging entities. Click Remove next to any merging entities entered by mistake, then click Next.
7. On the Finish page, click Finish to complete the merger process, or use the Steps menu on the left side to review and update any previous pages.
8. After finishing the Merger Wizard, records of the merger can be found under the merging entities' Merging Entity Screens and the surviving entity's Surviving Entity Screen.
