S-31.1 - Business Corporations Act

Section 89 Disposition versions

2011-02-14

89. Unless all the shareholders consent, whether or not their shares otherwise carry voting rights, a corporation that is not a reporting issuer must, within 30 days after acquiring by agreement any of its issued shares, notify its shareholders

(1)  of the number of shares it has acquired;

(2)  of the names of the shareholders from whom it has acquired the shares;

(3)  of the price paid for the shares;

(4)  if the consideration was not in money, of the nature of the consideration given and the value attributed to it; and

(5)  of the balance, if any, remaining due to shareholders from whom it acquired the shares.

A shareholder is entitled on request and without charge to a copy of the agreement under which the corporation has agreed to acquire, or has acquired, any of its own shares.

2009, c. 52, s. 89.