Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Share buyback definition

What does Share buyback mean? A share buyback is a company purchasing its own issued shares, typically to return surplus cash, manage capital structure or satisfy employee share schemes. The statutory concept in UK company law is a “purchase of own shares”; “share buyback” is the common transactional term. In England & Wales, Scotland and Northern Ireland, buybacks by a limited company are governed by Part 18 of the Companies Act 2006. Key features include: shareholder authority (ordinary resolution for market purchases; special resolution approving the contract for off‑market purchases); funding only from distributable profits or the proceeds of a fresh issue (with...

UK public company share buybacks: procedural guide to on/off‑market implementation, UK MAR closed periods, LSE/AIM timetables, payment rules, staggered completions and failure remedies

Published by a LexisNexis Corporate expert

Practice notes

STOP PRESS:

A major overhaul of the UK listings regime took effect on 29 July 2024, scrapping both the premium and the standard listing segments and replacing them with a single category for equity Shares in commercial companies. That commercial companies category is heavily disclosure-led and sits alongside other listing categories, including the shell companies category, the secondary listing category and the closed ended investment fund category, among others. A new UK Listing Rules sourcebook came into force to deliver these changes, and the previous Listing Rules sourcebook was revoked. For further information and detail, see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the regime as it existed prior to 29 July 2024. A limited company may buy back shares in itself, provided conditions set out in the Companies Act 2006 (CA 2006) are satisfied, where applicable. This is known as a Share Buyback or a purchase of own shares. In addition to CA 2006, there are other rules and guidelines that are relevant to a listed company or an AIM company. In particular, a listed company must have regard to the Listing Rules (LRs) and the Disclosure Guidance and Transparency Rules (DTRs). An AIM...

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Web page updated on 22/05/2026

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