Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Issue of additional preference shares:
In the Bristol Aeroplane Case it was said of the issue of additional preference shares that:
"the existing preference shareholders will be in a less advantageous position on such occasions as entitle them to register their votes whether at a general meeting of the company or at separate meetings of their own class. But there is to my mind a sensible distinction or a distinction, between an affecting of the rights and an affecting of ... the capacity to turn them to account".
It is a sensible or practical distinction because many decisions taken in the course of the company's business might affect the value of the shareholders' rights. For example, suppose that a company has two businesses: one is a dependable source of profits sufficient to provide for the preference dividend but those profits are a poor return on capital employed. The directors then decide to sell that business at a high price in order to reinvest the proceeds in expanding the company's other business which offers prospects of long-term capital growth but very little immediate profit. The position of preference shareholders would be affected since there may no longer be sufficient profits to cover their dividend. But it would not be appropriate that they should have a veto (under variation of rights procedure) or an opportunity to apply to the court for a veto on what is essentially a question of commercial strategy. It would probably be better to limit the constraint of variation of rights procedure to clear-cut and direct alteration of class rights, e.g. a reduction in the rate of preference dividend from, say, 8% to 6%.
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
Illustrate the example for Policy Convergence Suppose there are two candidates, with known positions, policy proposal p A and policy proposal p B , representing policy offers
Provisional Contracts - Law of Contract However occasionally an agreement may be illustrated through the parties thereto as being as "a provisional agreement" until a legally
Q. Statutory task force on phoenix activity? A long term option could be the establishment of a statutory task force on phoenix activity. This could be supported by all the rel
Exceptions to the doctrine of Privity of contract Further there are a number of exceptions to the privity of contract rule of which the subsequent may be stated: (a) Agenc
What is the principal-agent paradigm Controversies on the decisions of many state governors and other ministers can be cited as examples. Such behaviour reflects their willing
Domicile of Dependence Moreover this is the domicile a person acquires by virtue of legal dependency. Hence it is determined through the domicile of the other person. Howev
Standard of proof in criminal cases: Whenever the standard of proof in criminal cases is away from any reasonable doubt. Further in the event of any reasonable doubt the accu
In the paper Action against Fraudulent Phoenix Activity: Proposals Paper, Treasury made a range of recommendations to amend director's liability provisions and taxation law. Rec
Illustrate the principle of authority or power Authorities are delegated by the Principal to agents and it is the characteristic of all the governments. This delegation of auth
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd