Buying back shares (TT JulAug03 p28-30)
The Treasurer July-August 2003
From 1 December 2003, listed UK companies will be able to buy back their own shares and hold them ‘in treasury’ rather than cancelling them. The transaction will reduce distributable reserves, but when the shares are re-issued the reduction will be reversed. The re-issue of treasury shares will be subject to restrictions, as we will outline below.
