Redeemable Shares can be redeemed at the option of the company or the holder of the redeemable shares. There are very strict rules that companies must follow for the purchase or redemption of shares out of capital.
The Redemption of Shares Out of Capital Sub-folder contains guidance notes which take you through the steps which must be followed for this procedure. There are several supporting documents, including a Redemption Out of Capital – Public Notice, which provides notice of the proposed payment out of capital which must be published by the company in the Gazette, and a Redemption Out of Capital – Directors’ Statement, which is the statement of the solvency of the company given by the directors in the format prescribed by the Companies Act 2006.
Redemption of Shares Out of Capital is part of the Corporate folder. Access all Corporate documents for £35+VAT.