ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
62. Class of shares and treatment of treasury shares
Edition: 2023-12-15 · In force
62. Class of shares and treatment of treasury shares
(1)If a proposal to buy back shares relates to a class of shares of the listed company, the shares to be bought back by the company shall not exceed ten per cent of the total issued shares of that class in a given financial year:Provided that the Authority may waive this limit on the written application of the listed company.(2)If a listed company opts to keep the shares bought back in treasury, the treasury shares shall not exceed ten per cent of the total issued shares of that class.(3)Where a listed company proposes to sell treasury shares, including any transfer to an employee share ownership scheme of the company, the company shall, before selling or transferring the treasury shares, seek the approval of the company’s shareholders and Authority in accordance with these Regulations.