Own Share Purchase Out Of Capital – 1st Letter to Companies House (ESS)
A purchase of own shares is when a company purchases shares in itself from an existing shareholder and the shares purchased are not redeemable shares. Please see "Own Share Purchase out of Capital - Guidance Notes" for more information.
If the shares are being purchased for the purposes of an employees’ share scheme, slightly different procedures must be followed and specific documents must be filed at Companies House.
This Own Share Purchase out of Capital - 1st Letter to Companies House (ESS) is to be used as a cover letter for filing with Companies House the Special Resolution, a copy of the Solvency Statement, a Statement of Capital and a Statement under Section 720B(5).
These documents must be sent to the Registrar of Companies within 15 days of the Special Resolution being passed.
This Own Share Purchase out of Capital - 1st Letter to Companies House (ESS) is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
This Letter has been produced to reflect the April 2013 changes to the Companies Act 2006, notably the introduction of a separate, simpler procedure for approving the use of capital where the purchase of own shares is for the purposes of an employees’ share scheme.
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