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Edward

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Edward

Re: Moonboy1 post# 39412

Saturday, 01/12/2019 8:22:01 AM

Saturday, January 12, 2019 8:22:01 AM

Post# of 70340
In addition,a company does not need SEC or stockholder approval to purchase their shares with a buyback. The only approval they need is from the Board of directors.


Companies are allowed to buy back up to 10 per cent of their shares annually with only board approval. This means that in a year a company will be allowed to buy back up to 10% of its equity capital and free reserves without seeking a special resolution of the shareholders.

Buy back of shares with Board’s approval will be allowed only once in a period of 12 months. This means that buy back process with only Board’s approval will be allowed to repeat year after year.

LINK
www.yourarticlelibrary.com/accounting/share/buyback-of-shares-conditions-prohibition-and-relaxation/46874

SEE NUMBER 3.
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