Set up a new offer

To set up a new offer:

1. From the menu, go to Capital raising  and then click the sub-menu item Offers & Applications.
2. Click + Create new offer and then enter the details of your offer.

NB: Before creating a new Offer, consider setting up default payment methods which can be re-used in all new Offer and Capital call setups. Instructions for setting up default payment methods can be found here. 

Overview

• Enter the name of your offer (you can just use the name of the Company / Entity here).
• Select the Security you will be asking investors to invest in.
  • When you approve the application and issue securities to the investor, by default the allotment transaction type will be called "Allotment". To change the allotment transaction type click Show more options and select an allotment transaction type from the ones available in the dropdown. 
• An offer URL will be automatically created but you can update this if required. 
• Upload a Logo for your offer. This logo will be displayed in the top header bar of the online application form web page.
• Upload the offer document/s. This will be sent to investors to their email address when they begin the application.
• Click Save and continue.

Terms and conditions

• Investors will be required to accept the Terms and Conditions to access the offer before entering the application form.
• You can also require that investors accept the Terms and Conditions to access the offer prior to having the ability to view the offer document (this is optional).
• Enter the Terms and Conditions to access the offer in the text box, or simply add "By completing this application form you agree to the Terms and Conditions outlined in the offer document".
• Investors will be required to accept separate Terms and conditions of application before submitting their application. Standard terms and conditions have been pre-filled in this text box which you may edit.
• Click Save and continue.

Due diligence

Selecting these options will add an "Applicant profile" section to the application form where you can collect advisor information and ask custom multiple choice due diligence questions.

• Do you want to ask applicants if they have received personal advice from a financial advisor? Select Yes to require applicants to provide their adviser’s name and adviser’s company name. Applicants will also have the option to provide their adviser with read-only access to the Investor by supplying their adviser’s email address.
• Do you want to ask due diligence questions if the applicant has not received advice? Select Yes to include custom due diligence questions. If an applicant has answered Yes to receiving advice from a financial adviser, they will not be required to answer these questions.
  • Enter custom text to introduce the due diligence questions in the text box. Default text has been pre-filled.
  • Enter a question in the Enter due diligence question text box.
  • Enter a multiple choice answer in the text input under Answers. To add another multiple choice answer, click Add answer. To delete an answer, click the minus icon to the right of the answer text input.
  • If you want to allow the applicant an option to add a free text response as well, check Allow applicant to add free text response to this question.
  • Click Add due diligence question to add further questions.
• Click Save and continue.

Investment amount

• Enter the Cost per security if the entity raising capital is a Company. If the entity you are creating the offer for is a unit trust we don't request that you enter this here as this can be edited when issuing the securities to an applicant.
• Enter the Minimum investment amount. The online application form will not allow applications for any amount less than the amount you set here unless you check the ‘Allow investors to apply for less than the minimum investment amount’ box. If you do not wish to have any mention of a minimum investment amount shown to prospective investors your online application form, you can enter a value of 0 in this field.
  
• Optionally, enter the Maximum investment amount. If your offer is is for a unit trust security then this will is expressed as a dollar amount, otherwise it is expressed as a number of securities. If you choose to enter a value in this field, then the online application will not allow applications for any amount more than the amount you set here.
• Enter the Increment investment amount for your offer. This will limit the increments which the online application form will allow investors to apply for; For example, if you set a Minimum investment amount of AUD 1,000 and Increment investment amount of AUD 500, investors will be able to apply for a minimum of AUD 1,000 and increase the amount in AUD 500 increments only. Investors would not be able to apply for AUD 1,200 because of the Increment investment amount of AUD 500.
• Enter the Application Fee percentage for the offer and select whether you want the application fee to be deducted from the total or added to the total. The difference between the two options is outlined below:

  a. Deduct the fee from the total: By choosing this option, you will pay the original investment amount specified and however the amount used to purchase unit/shares is the investment amount - application fee. 

  b. Add the fee to the total: By selecting this option, you will pay the investment amount along with the application fee. This means that the full investment amount will be used to purchase unit/shares.

  Note: If the issuer is a company, the deduction option is not available, and the system will automatically default to adding the fee to the total.

Regular investment plan

This option is available for unit trust-like securities. Select Let investors set up a regular investment plan to allow investors the option to make regularly scheduled investments into the security, instead of a one-off investment.

• Select payment frequency options. The selected options will be available to the investor to choose from.
• Optionally enter a Minimum investment amount allowed for each regular investment. If you choose to enter a value in this field, then the online application will not allow regular investments for any amount less than the amount you set here.
• Optionally enter a Maximum investment amount allowed for each regular investment. If you choose to enter a value in this field, then the online application will not allow regular investments for any amount more than the amount you set here.
• Enter your Direct debit provider display name.
  

Click Save and continue.

Priority codes and lists

Applications can be labeled with priority codes and grouped into lists (e.g. Chairman's list or a broker code) that helps you determine the source of the application.

To create a list:

• Click add investor list.
• Enter the Name of the list.
• Enter the priority code prefix.

Click Save and continue.

Investor verification

Registry Direct lets you record your AML/CTF checks on any investor using our offer functionality. You can request and keep copies of certified documentation using our online application form.

Additionally, online checks and PEP screening can be performed with GreenID* which reduces your requirement to collect ID documentation from your investors.

Registry Direct lets you choose how you want to perform your AML/CTF checks when you set up your application.

1. Using GreenID

If you choose to use GreenID, the application form will request the relevant data necessary from the investor so your verification checks can be done as soon as the application is submitted.

Once an investor submits an application you can instantly verify them.

If you select this option Individual (individual investors, company directors, beneficial owners etc) and Company investors can be verified electronically using GreenID. Rule Set N (“Safe Harbour”) provides three alternative sets of requirements, each of which complies with the electronic “safe harbour” provisions, defined in Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act (AML/CTF Rules). This is an example of a “combination” rule set, in which any one set of criteria, of the alternative sets offered, may be met for the overall verification to be successful.

This also includes a watch list service for individuals. Watch lists contain the names of known criminals, sanctioned individuals, politically exposed persons (PEP) or other high risk individuals. Screening your applicants against watch lists can help you comply with regulatory requirements or simply give you extra assurance about who your customers are. Premium Dow Jones Watch List Service searches data gleaned from more than 1,000 watch lists and provides additional profile information compiled by the Dow Jones Risk and Compliance team.

*Note that GreenID is intended to work for verifying Australian and New Zealand parties and using GreenID will incur a cost of $10.00 (excluding GST) per individual lookup and a cost of $17.00 (excluding GST) per company lookup (Additional fees may apply on AML checks on Directors and Owners).

Note that GreenID can only verify Super funds but you can still request Super funds to submit an extract of the trust deed.

To use greenID:

1. Check AML/CTF.
2. Check Verify using greenID.

2. Without GreenID

If you choose not to use GreenID and wish to verify investors yourself, you can choose what documentation you want your investors to provide in the application form.

Once an investor submits their application you can review and verify the documents they have uploaded and mark the application as verified.

To select which documentation you wish to request from investors:

1. Check AML/CTF.
2. Check the documents you wish to request from each investor type (e.g Passport for individuals).

Sophisticated/wholesale investors

You can request an accountant's certificate to be attached if the investment amount is less than $500,000.

If the offer has restrictions e.g. only open to Sophisticated/wholesale Investors you can also request that the investors upload confirmation that they meet these requirements. 

• If the offer is open to all investors, e.g. including retail investors, leave Sophisticated/wholesale investors checkbox unticked.
• To request a sophisticated/wholesale investor document, check Sophisticated/wholesale investors only.

Source of wealth

You can request that the investor provide information regarding their source of wealth. To do this check the box marked Source of wealth.

This will reveal two sets of radio options.

Source of wealth checkboxes adds a checkbox to the application form that requires the first or all beneficial owners to check a box to indicate where their source of wealth was derived. 

The application form will show a list of checkboxes for the applicant to select. One or more options can be selected. The options include:

• Gainful employment
• Business activity
• Superannuation savings
• Inheritance/gift
• Financial investments
• Other - checking this box requires the applicant to provide a custom source

Source of wealth verification documents. Selecting an option will ask the first or all beneficial owners to provide a document that verifies their source of wealth. By default this is set to not ask any beneficial owners to provide a source of wealth documents.

In submitted applications, under investor details the checked options and documents (if selected) will appear. Below this information there will be a dropdown where the issuer user can verify the source of wealth status.

For existing investors, under investor details, source of wealth documents can be found or added in the documents section for each beneficial owner type associate.  

Verification documents

When documents are requested for sophisticated/wholesale investors or source of wealth the following additional options will be shown: 

• Select Original certified documents if you want investor to send original certified document by post;
• Or select Certified copies of documents if you want investors to upload scanned certified copies of documents with their application.
• If you want to allow investor to submit the application without having uploaded all the documentation, check Allow investors to submit application without attaching all documents.

Click Save and continue.

Investor bank details

You can make it mandatory or optional for investors to provide their bank details. 

• Select ‘Yes, bank details are required’ to require bank details from the investor or;
• Select ‘No, bank details are optional’ to make the bank details optional.  

If you will be providing a Dividend reinvestment plan (DRP) then you can request the investor to enter their DRP preferences:

• Select Allow investors to enter reinvestment plan preferences.
  • Investors will be provided with 2 options (Full participation and No Participation)

Click Save and Continue.

Payment method

You can choose which payment methods you want to provide your investors with. These methods will be displayed in the invoice.

If you have setup default payment methods in the Capital raising, Accounts menu item, payment methods will be pre-populated. Instructions to setup default payment methods can be found here. You can edit or add new details using the below method.

You can also select if you want invoices to be automatically sent to investors when they complete an application or if you want to manually send them after you’ve approved their application. Note: If you choose to send them manually you will need to ensure you send the invoices after the application is made so the investors have the ability to pay for their application.

To select how you want to send the invoices to your investors:

• Select ‘Automatically, when an application is received’ to send the invoice when an investor completes an application or;
• Select ‘Manually, after an application is approved’ to send the invoice manually.

To select how you would like investors to pay for their application:

• If allowing BPAY as a payment method, check BPAY:
  • Enter your BPAY biller code.
  • If your BPAY code allows credit card payments:
    • Check Yes if you want to allow investors to pay via credit card.
    • Check No if you do not want to allow investor to pay via credit card.
  • Enter your BPAY limit.
• If allowing Cheque as a payment method, check Cheque:
  • Enter Cheque payable to
  • Enter the address the cheque is meant to be sent to:
    • Street
    • Suburb/city
    • State
    • Postcode
    • Country
• If allowing Electronic funds transfer as a payment method, check Electronic funds transfer:
  • Enter your Account name
  • SWIFT or Bank Identification Code (BIC)
  • BSB
  • Account number
• If allowing Direct Debit as a payment method, check Direct Debit.
  • Enter the name of the Direct Debit provider

You can add additional text to the invoice that gets sent to the investor too (please note the payment details and some other important information is already included in the invoice).

To enter additional invoice text:

• Enter and format the text in the ‘Enter any additional instruction or information to be included on the invoice’ text box.

Click Save and continue.

Contact details

These details will be pre-filled with your existing contact details but you can enter different contact details for the offer. These contact details will be included in the offer application, invoice and receipt.

To change/enter the contact details of the application, fill in the following details:

• Name
• Website URL
• Email
• Phone
• Facsimile
• Street
• Suburb/city
• Postcode
• Country

You can also enter an additional Application form contact person, who will be displayed with the contact details on the application form. Enter their:

• Contact name
• Contact email

Notifications

You can add details here if you would like a confirmation to be sent any time a new application is completed.

To add an email address so they receive a confirmation email:

• Click add email.
• Enter the email address.

Click Save and continue.

Review

Before making the offer live you can review the offer set-up and make any changes you need. 

To view a preview of the application form:

• Click on the application form link

You can copy the offer URL. Note that the offer URL will not work until you make the offer Open from the offer summary page.

You can also review the invoice and receipt:

• To review the invoice, click on download sample invoice.
• To review the receipt, Click on download sample receipt.

You can also download a full pdf transcript of the offer setup for your own records or as a record to be signed off by a 3rd party.

Opening an offer

To make the offer live, see Change the status of your offer.

Duplicating an offer

You can duplicate an existing offer and then edit details rather than having to complete the entire offer setup form again.

To do this, go to Capital raising  and then click the sub-menu item Offers & Applications. Select an offer from the list to duplicate by clicking the copy icon in the actions column. A copy of the offer will be created. Use the edit link to update the required details on the duplicated offer.