What happens if an investment is cancelled after the reflection period?

What happens if an investment is cancelled after the reflection period?

Once the 4-day reflection period under the ECSP Regulation has expired, an investment is generally binding.

A cancellation is then only possible in justified exceptional cases.

In which exceptional cases is cancellation possible?

  1. Proven error: for example, a duplicate subscription caused by a technical error.
  2. Proven lack of legal capacity: the investor was demonstrably legally incapable at the time of the subscription.
  3. Material subsequent change to the offering terms: the offering terms were materially changed afterwards without the investor being informed in advance.

How is a cancellation requested?

All cancellation requests must be submitted to CONDA Capital in writing. The relevant exceptional circumstance must be explained and, where applicable, supported by appropriate evidence.

A cancellation is only carried out following review and approval by CONDA Capital.
Alert
After the 4-day reflection period has expired, there is generally no regular cancellation option. Cancellation is only possible in the justified exceptional cases listed above and subject to approval by CONDA Capital.