CmaBylaw
Executive Bylaws
14-2 Uses of Treasury Shares Of Module Eleven: Dealing in Securities
Section: Chapter Fourteen: Treasury Shares
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Tuesday, 14 February 2017
Treasury Shares may only be used as follows: 1. Maintaining stability of the company’s share price. 2. Reduction of the company’s paid-up capital. 3. Settlement of a company’s account receivables. 4. Repayment of a company’s outstanding debt. 5. Distribution of bonus shares to shareholders without an increase of the capital or the number of Shares issued. 6. Swap deals in the event of Merger with or an Acquisition Offer of other companies. 7. Distribution of all or some of the Treasury Shares to the company’s workers in the context of the employees’ Share option plans conditional upon the general assembly’s approval, and in accordance with the regulatory rules approved by the general assembly of the company. 8. Other cases determined by the Authority.Unlisted Companies may not dispose of shares in the events referred to in paragraphs (1), (3) and (4) of this Article.
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