Welcome to Board.Vision Tutorials. In this tutorial, we will walk you through the steps to change the type of currency for a current holding.
Important Note: Board.Vision web app is supported on Google Chrome (version 65.0 and later) and Microsoft Edge (version 87.0 and later).
To change the type of currency for a current holding:
1) Log in to your Board.Vision account using your registered email address and password.
2) Once you are logged in, Home shows an overview of your Upcoming, Pending, and Draft items.
3) Click on the Registers from the left menu. The Register of Directors section will be shown as your main screen.
4) Click on the Arrow Down button next to the Register of Directors, then select Members from the dropdown list.
5) Select the checkbox beside the Member’s name that you would like to edit. Then, click on the Edit icon. Please note that you can change the currency in Pending and Confirmed status.
6) Scroll down to the Current Holding section. Then, click on the current currency e.g SGD, and select the new currency e.g USD from the dropdown menu.
7) Change the information as necessary and click on Update Register at the top right.
8) On the Update Register pop-up window, enter the Reason of Change and Upload Document if any. Then click on Update Register.
9) You have successfully changed the currency type from SGD to USD for the Current Holding.
Please note the following:
Once you have updated the currency on the Current Holding section, under the Shares Allotted / Transferred In, you will be able to see transactions consisting of the old currency (SGD) and the newly updated currency (USD).
Under the Shares Transferred Out, you will only be able to see transaction(s) with the old currency (SGD).
This is because the system treated that you have sold all your shares with the old currency (SGD) and purchased new shares in the new currency (USD). However, all the changes made in the Register of Members will not be reflected in the Director's Disclosure.
For example, if the Administrator has updated the shareholder's shares from the Register of Allotment again (Ordinary Shares change from 3000 to 4000 in SGD). The changes will be updated in the Register of Members too.
The additional 1000 Ordinary shares will be added to the Current Holding list with the same currency i.e. SGD.
Under the Shares Allotted / Transferred In, the additional 1000 ordinary shares will be added to the previous record (3000+1000=4000).
Under the Shares Transferred Out, the record will remain the same.