Automate the process of moving shares back into an entity's treasury by completing a Cancellation transaction.
Overview
This article outlines the steps to cancel shares from a holding and return them to an entity's treasury via a Cancellation transaction in Athennian.
Note: This process requires existing holdings with issued shares.
Availability: All customers.
Perform a Share Cancellation
Navigate to the profile of the Entity for which a cancellation transaction is required
Navigate to the Securities > Ownership section down the left-hand side of the screen
In the Transactions tab, select the blue + New button in the top right-hand corner
In the New transaction modal that appears, select Cancellation, and the Cancellation modal will appear
In the Details section:
In the Select Type field, select Cancellation from the available dropdown
Fill in the mandatory Transaction Date* and Resolution Date
If these dates are not yet available, check off Blank Transaction Date or Blank Resolution Date and fill them in later
Note: If Blank Transaction Date is checked off, underlines appear in the generated documents where the dates would have appeared
In the Number of shares* field, enter the number of shares to cancel
Enter the mandatory Price per share*
In the Holding Selection section:
In the From section, click Select Holding to pick the holding from which to cancel shares
A list of the share certificates issued to that holding will appear
Check off the certificate(s) from which to cancel the shares
A line will appear next to each certificate number - enter the amount of shares to be cancelled from each certificate
Note: The numbers entered in the certificates section must match the amount entered in the Number of shares* field
Check off Leave balance on certificate if the balance shares (where applicable) should remain on the original certificate
Note: If this is not checked and a balance remains on the certificate, the original certificate will be cancelled, and a new certificate will be issued with the balance
Move on to the Preview tab, review the information and click Close once done
Click the blue Create button to complete the transaction creation
The cancellation transaction will appear in the Transactions section in a Pending status
Navigate to the status drop-down in the top right-hand corner and select Confirmed to finalize
In the Certificates section, the related certificates are visible
Proceed to generate Documents to support this transaction as required