ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
56. Shareholders’ resolution
Edition: 2023-12-15 · In force
56. Shareholders’ resolution
A shareholders’ resolution regarding a share buy-back proposal shall specify—(a)the number of shares or percentage of shares, and description and classes of the shares which the listed company has been authorised to buy back;(b)the dates on which the authority conferred by the shareholders’ resolution shall commence and expire;(c)the maximum funds to be allocated by the listed company for the share buy-back or the basis, other than reference to any person’s discretion or opinion, or formula for determining the maximum funds that are to be allocated;(d)whether the shares are proposed to be cancelled or retained as treasury shares, or both and, if available, information as to the percentage or number of shares purchased which are to be retained or cancelled; and(e)whether the shares will be bought back off-market or onmarket.