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Shares Capital, Fundraising and Insolvency

Share Buy-Backs – Unlisted Company

Lawyer.com.au -
A "buy back" involves a company reclaiming issued shares by purchasing them from existing shareholders (i.e., buying them back). The buy-back provisions in our Constitution appear to...
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Shares Capital, Fundraising and Insolvency

Share Buy-Backs: Pty Ltd Company

Lawyer.com.au -
The Corporations Act (and sometimes the company’s Constitution) governs the buying back of shares by a company. In my opinion, this is effectively the easiest way...
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Shares Capital, Fundraising and Insolvency

Share Buy-Backs – Negative Equity

Lawyer.com.au -
Further to today's meeting/discussions I confirm that (except in some circumstances which are not applicable to us) in my opinion generally the only way a company can...
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Shares Capital, Fundraising and Insolvency

Share Buy-Back – 10 Percent Limit

Lawyer.com.au -
The Corporations Act allows a company to buy-back its own shares using one of several methods. The main reason for buying back shares is to...
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Shares Capital, Fundraising and Insolvency

Share Buy-Back – Single Shareholder Company

Lawyer.com.au -
As we have decided to de-register our wholly-owned subsidiary (because that company no longer has any use) we have to first reduce its assets down to...
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Shares Capital, Fundraising and Insolvency

Minimum Share Capital

Lawyer.com.au -
The Corporations Act requires, under section 114, that a company must have at least 1 shareholder – which presumes it must have at least 1...
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Shares Capital, Fundraising and Insolvency

Sale Bonus Plan

Lawyer.com.au -
You have been considering ways to provide a benefit to key staff should the Company be sold at some future time, to incentivise and reward...
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Shares Capital, Fundraising and Insolvency

Rights Issue – Shares

Lawyer.com.au -
A common way for a company to raise additional capital is to approach all shareholders seeking their investment in new shares on a basis pro-rata (ie,...
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Shares Capital, Fundraising and Insolvency

Return of Capital – Single Shareholder Company

Lawyer.com.au -
You have requested my comments on what is involved for EPL to reduce its share capital because it has surplus capital far in excess of...
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Shares Capital, Fundraising and Insolvency

Return of Capital

Lawyer.com.au -
The Corporations Act “maintenance of capital” principles generally restrict the ability of a company to reduce its issued share capital. However, there are some “return of...
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Shares Capital, Fundraising and Insolvency

Related Party Contracts & Benefits

Lawyer.com.au -
My understanding of the Corporations Act (as a practicing Company Secretary) is that, generally speaking: Related Party Interest for all companies Sec.191(1) requires a director to disclose¹ a “material personal interest”...
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Shares Capital, Fundraising and Insolvency

Related Party Benefits

Lawyer.com.au -
Chapter 2E of the Corporations Act covers ‘related party benefits’ – designed to protect the interests of a company’s shareholders as a whole, by requiring shareholder...
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