How to Redeem Shares

Redeeming shares is actually the same as canceling shares, with a different description entered into the Basis of Disposition field.

This process assumes that all shares outstanding in a record are going to be redeemed (not a partial redemption). In Corporate Focus, you use the Changes Function > Transfer to cancel (redeem) the shares.

Here are the steps needed to redeem shares:

  1. On the Ownership Ledger, locate the record(s) to be redeemed. You can redeem multiple outstanding certificates of the same ownership type that have the same redemption date all at once.
  2. On the right of the Ownership Ledger screen, check the Tag box for each item that you want to redeem.

    Tag the Records You Want to Redeem

  3. Once the record(s) are tagged, click the Changes icon at the bottom of the screen.

    Click the Changes button

  4. The Changes dialog appears; leave the Transfer option selected.

    Select Change dialog

  5. Enter the redemption date in the date field at the bottom of the dialog and then click OK.
    The Transfer screen appears; you are not going to transfer anything.
  6. At the bottom of the Transfer screen on the right-hand side are three radio buttons. Select the radio button for Cancel Balance. The top part of the screen becomes grayed out.

    Select radio button for Cancel Balance

  7. In the Basis of Disposition field at the bottom, the default text is “Balance Canceled”. Change this to Balance Redeemed or any other meaningful notation that you want applied to the redeemed certificate records.

    Click Final Transfer.

All of the certificates that you tagged are now canceled and the shares returned to the authorized and unissued shares for the ownership type.

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