The following is a non-exhaustive list of matters to be considered in advance of undertaking a share buyback:
Any restriction or prohibition contained in the Articles of Association of a company on purchasing its own shares, or (historically) in providing financial assistance for doing so, will need to be adhered to.
Alternatively, a special resolution may be passed to amend or remove the prohibition or restriction in / from the Articles. Please note that any amendment to the Articles will need to be completed before the shareholders consider the special resolution to approve the buyback.
There must be at least one non-redeemable share in issue after the buyback has taken place.
The shares to be purchased must be fully paid (in order to protect the interests of creditors).
If the company has multiple classes of share then class consent will be required if the rights attached to any class will be varied by the buyback.