A company cannot buy-back its -
1) shares
2) Other specified securities, directly or indirectly
a) Through any subsidiary company including its own subsidiaries; or
b) Through investment or group of investment companies;
what does it mean by through those companies
it’s a simple concept in financial instruments, the person holding the company shares is exercising his rights until maturity, business model test. The options embedded must give the super the right to buy back shares which is not possible.
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