Post by cjm on Jun 11, 2019 7:54:21 GMT
The Companies Act used to provide (perhaps it still does) that all shares of a class are to be treated equally. In the light of that provision I have always marvelled at how privileged shareholders are able to have classes of shares containing all sorts of perks (like having additional voting rights, even while they have a minute portion of the total share capital). It seems that that requirement does not apply between different classes. In other words, the equality provision can be circumvented at will by creating new classes. It is an abomination that people having a minority of the share capital can have voting rights in excess of their pro rate share holding.