A guide to running or disapplying pre-emption in Kudocs

This guide explains how you can use Kudocs to handle pre-emption rights. Use this process to handle all elements of the pre-emption process – be it disapplying (by special resolution) or running a pre-emption process (including calculating entitlements and whole share rounding, sending pre-emption allocations to shareholders and providing them with a quick and easy way to reply – including oversubscription – and tracking responses for the share issue.

You can run this process as part of a share issue (perform) or as a standalone process.

These action is available via:

Via share issue:
- quick action list in Company Dashboard
- Quick action list in Shares & Shareholders
- All actions.
Via standalone process:
- All actions

This is a Perform process only.

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Perform route

Select this route and Kudocs will help you complete all the necessary steps for this action.

Step 1

Select which route you want to go down (share issue or standalone)

More detail

Set up the process as usual (select share class, do you need authority to issue, etc)

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Step 2

Select how you want to deal with pre-emption rights

More detail

- Disapply via special resolution (use Kudocs secure e-voting)
- Run pre-emption

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Step 3

If running pre-emption, set up how you want Kudocs to process this

More detail

- Which share classes should be used to calculate
- How much are you looking to raise
- At what share price, or how many shares

Kudocs will then calculate how many shares/ share price based on your inputs and also taking into account the fact that existing shareholders need to be offered a whole number of shares in proportion to their current holdings. Kudocs calculates the 'whole share rounding' for you and will suggest if the amounts to be raised need to be adjusted slightly to cater for this (usually it is only +/- a little bit).

You can review all the pre-emption calculations before proceeding (including exporting a pre-emption summary)

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Step 4

Send pre-emption offers to existing shareholders

More detail

Shareholders receive a bespoke email with access to a personalised pre-emption offer page with their entitlement and where they can respond:
- reject (and waive)
- take up part
- take up all of it (and request oversubscription.

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Step 5

Kudocs tracks their responses and pulls that information through to the share issue section

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Outputs - all handled automatically by Kudocs

Pre-emption entitlements calculated for you
Emails send to shareholders to complete pre-emption entitlements
Full audit trail of shareholder responses (including oversubscription)
Information carried forward into the share issue process for your ease.

Read the FAQ

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Pre-emption

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Perform route

Select which route you want to go down (share issue or standalone)

Select how you want to deal with pre-emption rights

If running pre-emption, set up how you want Kudocs to process this

Send pre-emption offers to existing shareholders

Kudocs tracks their responses and pulls that information through to the share issue section

Outputs - all handled automatically by Kudocs