Redemption Transactions

Learn how to redeem shares in Athennian!

In order to conduct a redemption, repurchase, cancellation or retraction of shares from a shareholding back into an entity's treasury, you must first have shareholdings with issued shares. 

To redeem shares, follow these simple steps:

1. Navigate to the profile of the entity for which you would like to do a redemption transaction;

2. Navigate to the Securities > Shares section down the lefthand side of the screen;

3. In the Transactions tab, select + New - a list of various transactions will appear;

4. Select Cancellation from the list of transactions - a workflow will open up;

5. Fill in the Transaction Date and Resolution Date; if you do not yet have these dates, check off Blank Transaction Date/Blank Resolution Date and fill them in at a later time - note: if you check off Blank Transaction Date, underlines will appear in the documents when you generate them where the dates would have appeared;

6. In the Select Type field, select Redeem;

7. In the Number of shares field, enter the number of shares you wish to redeem, and enter the Price per share if applicable;

8. In the From section, select the shareholder from which you would like to redeem shares;

9. A list of the share certificates issued to that shareholder will appear - check off the certificate(s) from which you would like to redeem the shares;

10. A line will appear next to each certificate number - enter the amount of shares to be redeemed from each certificate - Note: make sure that the numbers you enter in the certificates section match up with the amount you entered in the Number of shares field;

11. Do not check off Leave balance on certificate if you have additional documents to generate as a result of the balance left over from the shares not redeemed - you will need to generate these documents separately once the balance transaction and related certificate are created - Note: if you do not have additional documents to generate as a result of the balance shares, you can simply check off Leave balance on certificate;

12. Click Next and move on to the Review tab, review the information and select Draft;

13. You will notice the redemption transaction and, where applicable, the balance transaction appear in the Transactions section, and in the Certificates section you will see the related certificates;

14. You can then proceed to generate documents to support this transaction as required - Note: if you are generating any documents for the remaining balance of shares not redeemed, you would generate these documents after the fact by checking off the balance transaction and related certificate in the Securities > Shares section, and then clicking Generate Selected to generate the remaining documents;

Note: Registers and Ledgers can be generated from the Securities section for these transactions.  To generate any other documents, create a Share Transactions task from the Tasks tab of the entity, and add the transactions and related certificates to that task, and then generate the supporting documents from the Task.