SAFPL has two classes of shares on issue – ordinary shares and A Class shares. Under the terms of the SAFPL constitution, each A Class share currently carries an entitlement to vote on any resolution to amend the company’s constitution. The directors of SAFPL would like to have the constitution amended so that A Class cannot vote on constitutional amendments.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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SAFPL has two classes of shares on issue – ordinary shares

and A Class shares. Under the terms of the SAFPL constitution, each A Class

share currently carries an entitlement to vote on any resolution to amend the

company’s constitution. The directors of SAFPL would like to have the

constitution amended so that A Class cannot vote on constitutional amendments.

Is this possible? If so, what would be required to make that amendment?

 

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