In order to exchange or convert shares, you must first have shareholdings with issued shares.
Exchanges and conversions both follow an identical workflow pattern. In this article, we will refer to exchanges to keep sentences concise, but the same workflow patterns apply to conversions as well.
To exchange shares or units, click + New in the Transactions tab. This will bring up the transaction type selector, choose Exchange to open the Exchange 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.
Select the "From" shareholding, or the shareholding that is initiating the exchange. Then select that shareholding's certificate that you wish to exchange with. Currently only transfers support multiple certificate selection for vendor shares. For other types of transactions, including exchanges, you can currently only select one certificate at a time for the vendor. Multiple certificate selection for all transaction types is expected to be released in August 2019.
Enter the number of shares you wish to redeem as well as the fair market value price per share and currency. The number of shares you want to exchange must not exceed the number of shares selected to transact from the certificate you selected (a warning will show telling you the required balance).
Select the source of the shares to be used on the other side of the transaction from either another class or another entity.
Navigate to the Exchange To Details tab and then complete the details for the other side of the exchange transaction.
Once complete, navigate to the Review tab and click Exchange. This will then create an exchange transaction on both sides of the transaction.
By default, Athennian will automatically cancel the selected vendor 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.
You can then proceed to generate documents you support this transaction as required.