Once you have marked an application as Paid (and optionally, as Verified) you can issue the securities (shares or units, depending on your offer) to the investor.
To issue the securities:
- From the menu, go to Offers and select Applications.
- Find the application in the Open applications list. It must have a status of Approved before you can issue securities.
- Click on the Applicant name in the list to go the application detail screen for the application.
- To issue securities for the application, specify the Settlement date.
- If the application is for units in a trust, you much specify the:
- Total purchase amount. This specifies the total cash amount which the investor applied and paid for. It can be adjusted if required, however, to less than the amount the investor has applied and paid for. This is known as “scaling back”.
- Cost per security in dollars and cents. The Total purchase amount is automatically divided by the Cost per security to determine the number of units which the applicant will be issued. This is displayed as the Total securities figure in the green box.
- If the application is for shares, you much specify the:
- Amount of securities to be issued. This specifies the total number of shares the investor will be issued and defaults to the number which they applied and paid for. It can be adjusted if required, however, to less (also known as “scaling back”) than the amount the investor has applied and paid for.
- Cost per security in dollars and cents. The Amount of securities to be issued is automatically multiplied by the Cost per security to determine the Total purchase price for the application. Total purchase price is displayed in the green box.
- If an application is "scaled back", the content of the email notification the investor receives when their securities are issued will inform them of the fact that they have been scaled back.
- If an application is "scaled back", it is your responsibility to ensure the investor is refunded money to cover the difference between what they applied and paid for and what you actually issued to them.
- If the investor does not have an email address stored in the system or has chosen not to receive statements via email, an email notification will be sent to the issuer or registrar (depending on how your profile is configured) containing an attached holding statement which can be printed and mailed to the investor to inform them that they have been issued shares.