If a private company or PLC has issued redeemable shares, it may redeem the shares in accordance with the terms of redemption.
The directors may, if authorised either by the company's articles or by a resolution, set the terms of redemption. Otherwise, the terms must be stated in the company's articles.
When shares are redeeming in a company, you must deliver Form SH02 together with a statement of capital to Companies House within a month of the redemption.
If you require help in filing the shares forms, our accountants at Concise Accountancy are more than happy to assist you. Feel free to contact us or email us at firstname.lastname@example.org.