Private Company Written Resolution For Off-Market Share Buyback
Publisher one
ƵSource file
Jurisdiction
England and WalesRelevant sectors
Type of legal document
💸 Off-market share purchaseBusiness activity
Authorise off-market purchaseAn off-market share purchase is a purchase of shares that takes place outside of the stock exchange. This type of purchase is not subject to the same regulations as a purchase made on the stock exchange, and as such, can be completed without disclosure to the public. This type of purchase can be beneficial for both the buyer and the seller, as it can avoid the need to pay fees and commissions associated with a purchase made on the stock exchange.
The template is relevant for private companies incorporated in the United Kingdom and provides a written resolution format that can be adopted by the company's directors or shareholders to authorize and execute the buyback process.
The document typically includes the identification of the shareholders willing to sell their shares, the terms and conditions set forth for the buyback, and the specific mechanisms and procedures to be followed. It may also address relevant legal requirements, such as compliance with Companies Act 2006 and other regulations governing share buybacks.
This template acts as a guide to ensure that the company adheres to legal obligations and protects the interests of both the company and its shareholders throughout the buyback process. It ensures transparency and clarity in the decision-making process, and helps mitigate any potential disputes or legal issues that may arise during the buyback transaction.
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