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Repurchase of shares
The repurchase of shares is the acquisition by the company of its own shares from its shareholders.
Acquisition of shares occurs when a company, such as a BV or NV, resolves to acquire its own shares. This is subject to stringent statutory conditions, including the requirement that the acquisition be effected out of distributable reserves and that the company acquire no more than fifty per cent of the issued share capital.
The provisions are designed to protect the company’s capital and its creditors. Without these rules, a company could erode its equity to the detriment of creditors.
In practice, acquisitions are frequently used to return surplus liquidity to shareholders, to support the share price or to make shares available under employee incentive schemes.
“The general meeting of shareholders approved the repurchase of shares up to a maximum of ten per cent of the issued capital.”
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