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Capital and financing

Class rights

What are they?

Class rights are the special rights attached to each class of shares,
such as dividend rights, distribution of capital on a winding up and
voting. (See section above concerning the different rights that normally
attach to ordinary shares and preference shares.)

How can they be varied?

The procedure for varying class rights depends on whether any procedure is
specified in the articles:

Is procedure to Method of variation
vary specified?

Yes Procedure set out in articles must be followed.

Variation needs special resolution or written consent of 75%
No in nominal value of the class: s.63 CA06.

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