Overview
The company buys back shares from its 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 buyback 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 Add Transaction +
Select Share Buy Back
Instructions
CAS 360 will display the Buy Back screen
| Field | Explanation |
| Transaction Date | Input the date the Buy Back will occur |
| Shareholder | 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 | CAS 360 will display a list of the share types the shareholder holds |
| Number of Shares | Input the relevant number of shares affected |
| Total Buy back Amount Paid | Total amount paid to the shareholder for the buy back. |
| Total Buy back Amount of Issued Share Capital | Enter the amount payable for issued share capital in decimals. |
| Total Buy back Amount of Paid up Share Capital |
Enter the amount of paid up share capital in decimals. For changes to partly paid shares, click here. |
| Buy Back Type | Select the appropriate buy back type |
| Meeting Status | Select the meeting status of the member which will display on the Members Minutes |
| Field | Explanation (Transferor & Transferee) |
| Certificate Type | Select the Certificate Type |
| Certificate Number | CAS 360 will automatically pre-fill a number based on previous shareholder transactions. |
| Certificate Location | Enter the location of the Certificate |
| Unique Numbers | Type a Unique Number to assign to the shares |
Click Save
Forms Prepared
By selecting Prepare Forms CAS 360 will display the Document Production screen and automatically select the documents required
- Cover Letter
- Register of Members
- Allotment Journal
- Directors Minutes or Resolution
- Notice of EGM
- Members Minutes or Resolution
- Members Consent to Short Notice
- Company Change Summary
Notice of Purchase/Acquisition of Ordinary Shares Form 29C/29D
- Share Certificate
- Share Buy Back Letter
- Members Consent to Share Buy Back
Select the icon to change any of the document settings. Different options will appear depending on the document type.