I have searched on a company and found that it owns 52% of its own shares. On incorporation the shares were issued 98% to the Ltd Co, i.e itself & 2% to another shareholder. There were changes over a number of years, resulting in the current holding, which are 52% and 48% owned by the other shareholder.
The company is -seemingly - a personal service company, as the name of the company is the name of an individual, who is the sole Director and the other shareholder is the Director's wife.
This area of technical knowledge is not on I have needed to keep up with over the last 30 years(!), so can anyone tell me if this is legal, (I seem to remember that it is possible and I have seen it before) and why a company and an individual would do this?