Exchanging one Security for another
To record a change in the details of a Security in GEMS choose to add a new security transaction via either the dedicated screen or Snapshot panel on the entity the security is to be exchanged for.
Please note: The steps outlined here are used to record an alteration in the details of a security and to effectively swap one security for another. If the details of an existing security simply need to be changed e.g. a mistake needs to be corrected or more data is to be captured on a security this can be done by simply editing a security.
Select the security transaction type from the drop-down menu.
Relevant transaction types include – Conversion, Reverse Split Transaction, Consolidation, Convert to Shares, Redenomination, Renominalisation, Subdivision.
Please note: The options presented will depend on the Jurisdictional business rules being applied to the entity.
In this example, a Conversion of Shares will be used.
Please Note: Not all available fields are shown in the above image, further fields are available upon scrolling.
Complete the details on the new security transaction screen. Some of the key details are:
Registered Holder
Beneficial Holder
Security
Number of Securities to convert
New Security
Number of New Securities
Click the Save button to create the security transaction and dispose of the share.