Partial cancellation/transfer definition
Partial cancellation/transfer means that dilution (Article 47(1)(b)) is combined with ‘cancellation’ or ‘transfer’
Partial cancellation/transfer means that dilution (art. 47(1) letter. b)) is combined with “cancellation” or “transfer” (art. 47(1).( a)) without cancelling or transferring in full the instruments (i.e. the shareholders and the owner of other instrument retain some value). A partial transfer could also be effected by conducting a stock split to create additional shares which are transferred to holders of capital instruments or creditors.