In order to conduct a redemption, repurchase, gift or retraction of shares from a shareholding back into a company's treasury, you must first have shareholdings with issued shares.
Redemption, repurchase, gift or retraction of shares all follow an identical workflow pattern. In this article, we will refer to redemptions to keep sentences concise. However, the other transaction types will follow identical workflow patterns to redemptions.
To redeem shares or units, click + New in the Transactions tab. This will bring up the transaction type selector, choose Redemption to open the Redemptions workflow.
If you know your dates, enter them or you can leave them blank and add them later once you know them. If you want to run documents without dates, click Blank Transaction Date to add underlines in the documents where the dates should be.
Enter the number of shares you wish to redeem as well as the price per share and currency. The number of shares you want to redeem must not exceed the number of shares selected to transact from the certificate(s) you selected (a warning will show telling you the required balance). Select the share certificate(s) from which you would like to redeem the shares.
By default, Athennian will automatically cancel the selected share certificates and generate a new issued certificate for any balances left on the cancelled certificates. If you do not want to redeem all of the shares off of the selected certificate(s), you can select Balance remaining to keep the share balances on the cancelled certificates for a future transaction. Note that it is not recommended to keep share balances on cancelled certificates permanently because it will cause accounting issues with generated documents.
Because redemptions return stock to treasury, there is no purchaser shareholding configuration required.
Once you click navigate to Review and click Redeem a new pending transaction will be created, the selected certificates will be cancelled and balance remaining certificates will be issued (if any).
You can then proceed to generate documents you support this transaction as required.