ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
66. Appointment of stockbrokers
Edition: 2023-12-15 · In force
66. Appointment of stockbrokers
(1)A listed company intending to purchase its own shares or resell treasury shares on the securities exchange may appoint one or more stockbrokers for that purpose.(2)The listed company must ensure that all dealings in the company’s shares or treasury shares are made through the stockbrokers appointed under subregulation (1).(3)A listed company shall lodge a notice of the appointment of the stockbrokers concerned with the securities exchange immediately and open one securities account in the company’s name with such stockbrokers which shall be designated as “Share Buyback Account” used solely for the purchase of the company’s own shares or resale of treasury shares.