Own Share Purchase Out Of Profits/New Share Issue/Cash - Contract To Purchase
Companies may wish to "buy back" or purchase their own shares.
This Own Share Purchase Out of Profits/New Share Issue/Cash – Contract to Purchase is for a private company wishing to purchase its own shares using distributable profits, the proceeds of a new issue of shares or cash. It should be read in conjunction with "Own Share Purchase Out of Profits/New Share Issue/Cash – Guidance Notes."
In order for a private limited company to purchase its own This Contract to Purchase contains the following Clauses: 1. Definitions This document is The company purchasing the shares will be the Purchaser and its details will need to be completed The nominal value of the share referred to in Recitals A and B is the value of each share on the share certificate. This may be only a small amount (e.g. 1p, 10p or £1) and may be considerably less than the price paid per share. If the price paid per share is more than the nominal value, then the balance is referred to as the premium. If the Vendor is a corporate body, then clause 3.4 should be retained, Details for giving notice to each of the parties to the contract should be inserted at clause 6. The share capital of the company purchasing its own shares immediately before completion of the sale and purchase should be inserted at Schedule II and the share capital of the company purchasing its own shares immediately after completion of the sale and purchase should be inserted at Schedule III. This Contract to Purchase has been updated to reflect the April 2013 changes to the Companies Act 2006, notably the move from special resolution to ordinary resolution for approval of the Contract. Once you have subscribed to the appropriate document folder click on the "Download Document" button below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing. Own Share Purchase Out Of Profits/New Share Issue/Cash - Contract To Purchase is part of Corporate Documents. Just £35.00 + VAT provides unlimited downloads from Corporate Documents for 1 year.
2. Sale and Purchase of Sale Shares
3. Representations and Warranties of the Vendors
4. Representations and Warranties of the Purchaser
5. Miscellaneous
6. Notice Details