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:
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Navigate to the profile of the entity for which you would like to do a retraction transaction
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Navigate to the Securities > Ownership section down the lefthand side of the screen
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In the Transactions tab, select + New - a list of various transactions will appear
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Select Cancellation from the list of transactions - a workflow will open up
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In the Details section:
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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
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In the Select Type field, select Redeem
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In the Number of shares field, enter the number of shares you wish to retract, and enter the Price per share if applicable
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In the Holding Selection section:
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Select the holding from which you would like to retract shares
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A list of the share certificates issued to that shareholder will appear - check off the certificate(s) from which you would like to retract the shares
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A line will appear next to each certificate number - enter the amount of shares to be retracted 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
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Check off Leave balance on certificate if you would like to leave the balance shares (where applicable) on the original certificate - note: if you do not check this off and there is a balance left on the certificate, the original certificate will be cancelled and a new certificate will be issued with the balance
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Move on to the Preview tab, review the information and select Create
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You will notice the retraction transaction appear in the Transactions section, and in the Certificates section you will see the related certificates
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You can then proceed to generate documents to support this transaction as required.