CGT? Transferring title from 2 to 5 family members

G'day all,

I'm after some advice as the whether the following would trigger a CGT event and if so what percentage of ownership would apply:

Investment property purchased in 2007 in two names; to be transferred into 5 names by adding three family members' names to the title (no money will change hands). The original two family members will still retain a share of the property.

Thanks in advance.

Paul