Details
The company buys back shares from it's shareholders at an agreed value.
There are 8 different types of share buy backs handled by CAS 360. These are as follows:
- Employee share scheme within 10/12 limit
- Employee share scheme over 10/12 limit
- On-Market within 10/12 limit
- On-Market over 10/12 limit
- Equal Access Scheme within 10/12 limit
- Equal Access Scheme over 10/12 limit
- Selective Buy-Back
- Minimum Holding
What is the 10/12 limit?
The company buying back 10% of their issued share capital within a 12 month period. The buy back rules differ for companies that are buying back more than 10% in a 12 month period from those that are buying back less than 10% in 12 months.
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders |
Click
Select Share Buy Backs
Instructions
CAS 360 will display the Buy Backs screen.
Field | Explanation |
|---|---|
Transaction Date | Input the date the Buy Back will occur |
| Shareholder | In the shareholder field, CAS 360 will display a list of the company's current shareholders |
| Beneficial Owner | CAS 360 will automatically prefill this field if there is a beneficial owner. |
Share Type | In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
Number of shares | Input the relevant number of shares effected |
Buy back Amount Per Share | Amount paid to the shareholder for each share bought back |
Buy Back Type | Select the appropriate buy back type (See below for more information) |
| Proposed date for buy-back agreement to be entered into | Enter the date the buy back was proposed. This must be dated before the transaction date |
| Meeting Status | Select the meeting status of the member which will appear on the Resolutions. |
| Notes | Add extra notes to appear on the Register of Members |
Click
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required.
- Cover Letter
- Return of Purchase of Own Shares Form SH03
- Register of Members
- Allotment Journal
- Directors Minutes or Resolution
- Notice of Members Meeting
- Members Minutes or Resolution
- Members Consent
- Share Certificate