Examples of Buyback Authority in a sentence
The Board, having considered all aspects of the Proposed Renewal of Share Buy-back Authority and in particular, the rationale thereof as set out in section 2.1 above, is of the opinion that the Proposed Renewal of Share Buy-back Authority is in the best interest of the Company.
Accordingly, the Board recommends that shareholders vote in favour of the ordinary resolution pertaining to the Proposed Renewal of Share Buy-back Authority to be tabled at the forthcoming AGM.
Accordingly, the Board of Directors recommends that you vote in favour of the resolution relating to the Proposed Renewal of Share Buy-back Authority to be tabled at the forthcoming AGM.
Save for the inadvertent increase in the percentage shareholdings and/or voting rights of the shareholdings as a consequence of the Proposed Share Buy-back renewal, none of the Directors and major shareholders of Kobay or any other companies which is its subsidiary and/or persons connected with them has any interest, whether direct or indirect, in the Proposed Renewal of Share Buy-back Authority.
The Proposed Renewal of Share Buy-back Authority is not conditional or inter-conditional upon any other corporate exercise being or proposed to be undertaken by the Company.
The Proposed Renewal of Share Buy-back Authority is subject to and conditional upon shareholders’ approval at the forthcoming AGM.
Assuming that the Proposed Renewal of Share Buy-back Authority is carried out in full and the shares so purchased were all cancelled, the public shareholding of the Company will be 17.86%.
The Board of Directors having considered all aspects of the Proposed Renewal of Share Buy-back Authority, is of the opinion that the Proposed Renewal of Share Buy-back Authority is in the best interest of the Company and it is fair and reasonable and is not detrimental to the Company and its shareholders.
Any share buy-back under the Proposed Renewal of Share Buy-back Authority is likely to reduce the working capital of the Group, the quantum of which will depend on the purchase price, the actual number of shares bought back and any associated costs incurred in making the purchase.
Any share buy-back under the Proposed Renewal of Share Buy-back Authority may reduce the funds which would otherwise be available for payment of cash dividend in the future.