Cancel & Revert Cancellation of share transactions
What's new?
All outstanding share transactions can now be cancelled. If cancelled in error, this cancellation can be reverted.
How does it work?
Navigate to the ‘Share transactions’ screen. Select 'Cancel' from the kebab menu next to the share transaction record that you wish to cancel.
Cancelling a share transaction will return shares to the authorized share balance and in turn reduce the fully diluted shares on the cap table.
For share transactions with a status of ‘Cancelled’, click on the kebab menu and select ‘Revert Cancellation’. This will undo the cancellation of this share transaction. Cancelled share transactions are visible to the participant or investor on their participant portal.
Why is it important and how am I affected?
Share transactions may be cancelled for a number of reasons such as stock splits or clerical errors. In some scenarios, its imperative to retain a record of this cancellation on the platform for audit and reporting purposes.
The revert cancellation allows company administrators to undo previous share transactions cancellations that were done in error or correct data on cancelled records which had incorrect cancellation dates or cancellation reason.