Venture Deals · glossary
A company buying its own shares and cancelling them, which raises every other holder’s percentage. It needs cash and distributable profits. Solaris looked at buying back Cormac Duffy’s shares and rejected it. Chapter 5
Explained in Chapter 5, Vesting, Leavers and the Founder Who Left, of Venture Deals.
The company also looked at a buy-back (buying its own shares), which was available but rejected. The company had no distributable profits. The other route needs the directors to swear that the company can pay its debts, and Irish counsel advised against it while a Central Bank application was pending. Write “rejected” in a note, not “impossible”, because a rejected route can be reopened when the facts change.Read Chapter 5, Vesting, Leavers and the Founder Who Left →
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