Where a company buys back its own shares and the shares bought back are cancelled or retained in treasury, and where the treasury shares are sold, cancelled or distributed as share dividends to shareholders, the company shall within 3 day of the buy back, sale, cancellation or distribution, as the case may be, make appropriate adjustments to its register of substantial shareholders kept by the company pursuant to section 69L of the resultant percentage shareholdings of each of the substantial shareholders and insert the details of every person who became a substantial shareholder as a result of the buy back, sale, cancellation or distribution as the case may be.