How to cancel shares

An overview on how to record a cancellation for shares.

On Capdesk, you can cancel shares in multiple ways, depending on what the cancellation itself means:

1. Register offline cancellation - you can use this feature to cancel a part or all shares a shareholder holds
2. Revoke - you can use this feature if the transaction has been published but has been registered incorrectly (eg. the shares have been published but you need to correct the details of the transaction)

1. Register offline cancellation

n.b. You can find a step by step interactive product demo tour here.

There are different reasons for which you would need to cancel shares already issued, and to reflect this in Capdesk you will need to follow the next steps: go to Shares -> Transactions -> click on the green Shares button -> Register offline share cancellation.

Next, choose the relevant shareholder from the list and input the relevant details for the cancellation.

Please note, that the fields marked with a red asterisk are compulsory.

Once the transaction details have been input, you can either Save as Draft and publish at a later date or Publish and Notify Shareholder (if applicable).

2. Revoke

n.b. You can find a step by step interactive product demo tour here.

To revoke an incorrect transaction, you will need to go to Shares - Transactions - click on the three dotted action button '...' relevant to the transaction - Revoke.

It is compulsory to add a revocation note for each transaction you need to revoke on Capdesk, therefore you will be prompted with the following note box: