Buy-back regulations: replace 'price' with 'maximum price' and permit shareholder authorization for later board price determination. The amendment revises the Buy-back Regulations by substituting 'share'/'shareholders'/'share certificates' with 'specified securities'/'security-holders'/'security certificates', replacing ordinance references with the Companies (Amendment) Act, requiring disclosure of a maximum price for buy-backs while allowing shareholder authorisation for the board to fix the specific price later, omitting sub-regulation (6) of Regulation 19, and substituting Schedule I clause iii to permit explanatory statements to seek shareholder authority for the board to adopt a method in Regulation 4(1) at the appropriate time.
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Buy-back regulations: replace 'price' with 'maximum price' and permit shareholder authorization for later board price determination.
The amendment revises the Buy-back Regulations by substituting 'share'/'shareholders'/'share certificates' with 'specified securities'/'security-holders'/'security certificates', replacing ordinance references with the Companies (Amendment) Act, requiring disclosure of a maximum price for buy-backs while allowing shareholder authorisation for the board to fix the specific price later, omitting sub-regulation (6) of Regulation 19, and substituting Schedule I clause iii to permit explanatory statements to seek shareholder authority for the board to adopt a method in Regulation 4(1) at the appropriate time.
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