Companies Act 2014 section 1080

Duty of PLC to publish particulars of overseas market purchase

Section 1080 requires a public limited company (PLC) to publish specific details when it, or its subsidiary, purchases its own shares on an overseas market.

• When a PLC or its subsidiary buys the PLC's shares on an overseas market, the PLC must publicly disclose key details of that purchase
• The required information — date, price (or highest and lowest prices), number of shares, and the market used — must be published on the PLC's website or by another prescribed method
• Publication must run for a continuous period of at least 28 days, starting from the next business day of the relevant market after the purchase takes place
• Failure to comply is a category 3 offence, applying to both the PLC itself and any officer in default

---