InfoDocs offers four share reorganisation transactions that are easily completed on the app: Changing Authorised Shares, Re-classifying or Converting Shares, Redeeming Shares, and Share buybacks. All of these can be found in the Share Classes tab, under Actions, and by clicking on Share Reorganisations.
Follow the easy steps below to complete your company’s purchase own shares transaction.
Step 1: In the Share Reorganisation pop up box, select Purchase Own Shares / Share Buyback and click Next.
Step 2: In the next box, fill in the details pertaining to the transaction: The Share Class, the date of the buyback, the shareholder the company is buying from, the number of shares (usually all of them as the certificate will be cancelled), and the amount paid per share. Then click Save.
Step 3: InfoDocs will create an Ordinary Resolution for you outlining the details of the buyback.
The share buyback will now be visible under View Share Transactions in the Share Classes tab, and will also appear in the Share Register as “Purchase of own shares”.