Alteration of Share Capital (Listed Co)
Alteration of Share Capital (Listed Co)
Alteration of Share Capital (Listed Co)
Lecture Outline
1.
2.
3.
4.
Consolidation
Subdivision
Reduction
Share buy back
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18.
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22.
15. A copy of Form 11, the court order and Form 29 must be
inserted into every copy of the memorandum held in stock.
16. The court order may require a notice of reduction to be
published.
17. Fix and announce book closing date (ie the entitlement
date or lodgement date) for the purpose of determining the
eligible shareholders.
18. At least three and a half market days before book closing
date, request from BMD the ROD as at lodgement date.
19. BMD will within 3 clear market days issue the relevant ROD
as at book closing date to the company together with the
appropriate (jumbo) certificates representing the deposited
securities.
20. Trading of the share of the company will be suspended
from 3 market days prior to the entitlement date.
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11
12
13
ii)
iii)
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The conditions to be fulfilled before exercising share buybacks (s 67A(3) & Part IIIA s 18A-18G):
1. The articles of the company must authorise such action.
2. The company is solvent at the date of purchase and will
not become insolvent by reason of the purchase;
3. The purchase must be made through stock exchange;
4. The purchase must be made in good faith and in the
interest of the company.
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5.
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8.
9.
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