Specifically, I am trying to find out what is required to repurchase issued shares in a Singapore private limited and cancel them. Obviously, I'd like to avoid spending thousands on an attorney, at least until I am sure what my options are.
TIA
Thanks for the info. I am the owner, MD, etc. A partner wants out. I don't want to buy his shares. I want the company to buy his shares and retire them... they cannot be left as Treasury stock (max 10 percent anyway) under Singapore law.brittanny wrote:u need to refer to both the companies act and the m&aa of the company
go to http://statutes.agc.gov.sg/ for the companies act, and for a copy of the m&aa either contact the company secretary or purchase an extract thru ACRA bizfile. usually the m&aa is a std format adopted frm the act (table a in 4th sch of the act)
pls read the provisions in the m&aa carefully as it will prevail over the act. and if the m&aa is silent, u have to refer to the act
i'm not really sure what u meant by "repurchase issued shares and cancel them", but i'm guessing that u intend to do a capital reduction. for a starter, pls read section 78A & 78B of the act to ascertain whether this is really your intention
also, do conduct a company search thru ACRA bizfile for latest info on owner, authorised and issued&paid up cap and issued shares
Users browsing this forum: No registered users and 3 guests