What types or classes of shares can I have?
We have different types of shares to meet the requirements and situations of all our clients.
Shares available to clients include:
Ordinary Shares (ORD) These are the most common shares. They have equal voting rights, entitlements to an equal share of normal dividends declared, and equal entitlements to a share in the winding up of the company after debts to non shareholders have been paid.
Dividend Shares (D-E) The right to dividends declared for this class of share. No voting rights or to participate in any distribution on the winding up of the company.
Dividend shares (from D-F to D-L) Similar rights to (D-E) shares except that directors can declare dividends at different rates within each category. These shares arenormally issued to the children when the parents do not want to give them a say in the running of the company, but may wish to distribute dividends to the children, or some children and not others, or at different rates to different children.
Equity Shares (EQ) These shares entitle the holders to a share of the winding up of the company in the distribution of surplus assets or profits. There are no voting rights at general meetings or entitlements to dividends.
Management Shares (MGT) These shares entitle the holders to vote at general meetings but have no right to dividends or distributions on the winding up of the company.
Special Shares (SP) These are redeemable preference shares. They are entitled to cumulative preferential dividends declared by the directors. They have no voting rights or to participate in a share of the winding up of the company except for their right to receive unpaid dividends in priority to other shareholders. These shares can be redeemed at any time on notice from the directors.