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How to do a Share Buy Back/Purchase of own shares

Article ID
ias-9989
Article Name
How to do a Share Buy Back/Purchase of own shares
Created Date
28th July 2011
Product
IRIS Company Secretarial
Problem
How to do a Share Buy Back/Purchase of own shares
Resolution
Select, Edit | Share Register | Events | New | Purchase of own shares A ‘New Share Buy Back’ screen will appear. Select the share type that the share is being brought back from | Enter the number of shares being brought back | Enter the date | Enter the price and the fill out the description this will be automatically done when you select the description box. Once completed the share buyback screen select OK. The next screen to appear will be the ‘shares sold back to the company screen’ This screen will give you a list of members who are associated with this share type. From the bottom left hand side double click on the shareholder; this will transfer the shareholder on to the right hand side. Fill out the number of shares being brought back if the whole amount is not being sold back and then select post. Final screen to appear is the ‘Confirm shares number to be disposed’ Select the system choice and the share buyback is now complete. Note: – IRIS does not have a specific transaction to redeem shares therefore the above transactions would be how to show this information within the IRIS share register.

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