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My auction order was cancelled

Receiving an email notifying you of a canceled order means that either:

  • your shares were not sold during the auction or
  • your offer to buy shares during the auction did not take place.

If you put in an offer to sell, and you got a cancellation email, it means that one of the following occurred:

  1. The price that you wanted to sell your shares at was too high, and above the final auction price.
  2. There were not enough buyers to complete your desired sale within the auction price. Shares are distributed on a first-come-first-serve basis.

As a result, your shares would have then been returned to your property portfolio.

If you put in a bid to buy more shares and got a cancellation email, it means one of the following happened:

  1. The price that you wanted to buy more shares at was lower than the auction price.
  2. There were not enough sellers of shares to complete your bid to buy more shares at the auction price. Shares are allocated on a first-come-first-serve basis in this scenario as well.

That means then that the money that was reserved would have been returned to your EasyProperties wallet

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EasyProperties is a juristic representative of First World Trader (Pty) Ltd t/a EasyEquities which is an authorized Financial Services Provider (FSP number 22588). All trades on the EasyProperties platform are subject to the legal terms and conditions to which you agree to be bound. The EasyProperties platform enables users to invest in securities which includes whole shares and fractional share rights (FSRs). EasyProperties acts an agent for the issue of whole shares, where the investor is the registered owner of those shares, entitled to dividends, participation in corporate actions and all the economic benefits and risks associated with share ownership.

In respect of FSRs, EasyEquities acts as principal to a contract for difference issued to the investor, where the investor will have a contractual claim against EasyEquities to the economic benefits and risks associated with share ownership (price movements and dividends) without having ownership rights in the underlying share. Fractional share rights (FSRs) which are issued through a contract for difference, are an over the counter derivative. Unlike whole shares, FSRs do not carry any voting rights. As the investor makes further investments in FSRs and ultimately ends up with a whole share, the contract for difference is closed out and ownership whole share is delivered to the investor. The availability of any share on the EasyProperties platform is based on various factors but is not an indication of value and does not mean that any share is an appropriate investment for you. The value of a share is not guaranteed. The value can go down as well as up due to variable market factors. An investor may not recoup the full amount invested. Past performance is not necessarily an indication of future performance. Examples and/or illustrations are not guaranteed and are provided for illustrative purposes only.