The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023

67. Prohibition, cancellation or suspension

Edition: 2023-12-15 · In force

67. Prohibition, cancellation or suspension

(1)A listed company shall not undertake a share buyback transaction—

(a)during the period of fourteen days before the publication of the company’s half-yearly or annual financial statements; or

(b)after it has become aware of any material information which has not been made public which, if disclosed, could affect the price of the company’s shares.

(2)A share buyback transaction may be cancelled or suspended if—

(a)material information is announced during the period of fourteen days before the buyback being conducted; or

(b)if the listed company deems it fit in the circumstances.

(3)The cancellation or suspension of a buyback transaction shall be done within a reasonable time before the effective date of the buyback transaction.

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Source: Kenya Law