If the share transfers is between two unrelated parties (ie. different signers), follow the instructions in this article instead!
This article is intended to guide you through how to transfer shares from one party to their trust or other related entity using Cake's share transfer platform including generating a share transfer form for signing ✍️
Where the signers are the same for both parties, it's recommended that you don't send the transfer for signing through Cake's transfer feature, but rather you just use the platform to generate the contract and send it offline for execution by the relevant parties. Alternatively, you can just add the transfer as a historical transfer by following the steps in Method 2 of this article.
This article guides you through the steps of setting up the new entity, initiating the share transfer, saving the transfer form and executing the transfer offline ✨
Set Up the New Entity as a Contact
Navigate to "Company" and select "Stakeholders" from the dropdown menu.
Click on "+ Add" to create the new entity as a contact, not as a direct shareholder on the Cap Table.
N.B. Use a temporary email address for now that is different to the one linked to their current holdings, as you can update it later and you won't be using it to send the form, but there must be something added here.
Initiate the Share Transfer 🤝
Go to "Cap Table" and select "Shareholders" from the dropdown menu.
Choose "Share Transfers" and set up the transfer as per steps 1-6 of this article.
Ensure that the offer is at the "Ready to invite" step.
Save the Transfer Form
Click on "Send" as if you were sending the transfer form through Cake.
Stop when you reach the document preview screen.
Right-click on the preview and select "Save as" to save a copy of the transfer form as a PDF to your desktop.
Exit by clicking the "X" in the top right corner without sending the form.
Execute the Transfer Offline
Send the transfer form to the recipient via email.
Instruct them to execute the form as required.
Settle the Transfer Offline
Once you receive the signed transfer form, go to the transfer details in Cake.
Click on "More" and select "Settle Offline" from the options.
Follow the remaining prompted steps to finalise the transfer.
Update the Email Address 💡
Remember to update the temporary email address you initially added for the contact.
Replace it with the correct email address to ensure accurate communication.
By following these straightforward steps, you can effortlessly transfer shares to a trust or related entity within Cake's user-friendly platform. Simplify your ownership records and maintain transparency with seamless share transfers.
If you encounter any issues or need further assistance, don't hesitate to reach out to the Cake support team for guidance and support on the chat 💬