To convert shares from existing share class to a different share class in an import file
Before shares can be converted, the share classes that you want the shares to convert to will need to be added on Capdesk (if not done already). To learn how to add a new share class, click here.
You will then need to prepare the import file.
Go to the Shares page on the left hand side - Transactions - and click on the grey Import shareholders button. Here, you can download a CSV file templated populated with examples which you can use as guidance by clicking on the Download Sample CSV File button.
In order to successfully import the CSV file, there are some required columns which will be listed below together with their meaning. You can also find an extensive list with all the mandatory and non mandatory columns for shares import here.
|Column Name||If required||Explanation|
|first_name||compulsory||First name of the investor. Ignore if the investor is a company.|
|last_name||compulsory||Last name of the investor. Ignore if the investor is a company.|
|compulsory||Last name of the investor. Ignore if the investor is a company.|
|registration_number||compulsory||Only required if the investor is a company (rather than an individual person). We require the company registration number (typically found on Companies House if based in the UK). This is used as the unique ID for company stakeholders.|
|company_name||compulsory||The name of the company investor. Ignore if the investor is an individual.|
|country||compulsory||The country code of where they live. This will need to be in the format of ISO Alpha-2 (2 letters). (find a list with the relevant codes here)|
|stakeholder_category||compulsory||Add a category for your investor out of the following: Advisor, Employee, Founder, Other.|
|seller_share_class||compulsory||This is the existing share class you want to convert to a different share class.|
|price||compulsory||How much it will cost the person/company to convert their shares. If there is no cost then simply enter '0'.|
|quantity||compulsory||How many of shares from the seller share class you want to convert to a different share class.|
|date||compulsory||The date of when the transaction took place. This could differ from price * quantity because of rounding or having set decimal places for Companies House filings.|
|share_class||compulsory||The new share class that the shares will be converted to. (Please ensure this share class is added on Capdesk before you import)|
Once you have finished adding the data on the spreadsheet, save the file as .CSV. In order to upload the file, navigate to Shares - Import shareholders - Select file to import.
The system will now begin to process the file. This might take a while depending on how long your list is.
If there are any errors in the import files you will see the message below:
Click on Download Processed CSV to download a CSV sheet showing you the relevant errors. When you open the file, you will only need to look for the errors column and click on each individual error to find the explanation of what is wrong or missing.
In the above example, the error message suggests the share class has not been specified. You will need to update this in the original import file (the one you have created previously) and once done, re-import it using the steps mentioned above. Continue this process until the system approves.
When successful, you will see the below message:
You can disregard the warnings as these won't affect the data imported. Please note, all the data will be saved in Draft mode, for you to Review. In order to do this, click on Review imported data.
If however you are not happy with the data and wish to remove the file import, select Delete imported data.
Once you are happy with the data and wish to Publish, go to Imports on the left hand side (under Status) and click on the relevant import file. This can be found under the relevant transaction type category (eg. Shares, Option Grants, Share Grants) and can be differentiated by the date of the import (the file's name will be the date and hour the file has been imported).
You will then be taken to the Review and Publish page where you can select Publish imported data and all transactions will automatically be published. By clicking this button please note an invitation email will be sent to all the investors added in the import file!