| law |
re-designation of shares (Re-designation of shares – Although the CA 2006 does not specifically cater for a conversion of shares, section 636 provides that a company must notify the Registrar of Companies if it assigns a name or other designation, or a new name or other designation, to any class or description of its shares. The CA 2006 therefore contemplates that, for example, "A" ordinary shares will not always remain "A" ordinary shares and may be re-named or re-designated.: Ordinary resolution to re-designate = The first step when converting shares by a re-designation is to pass a shareholder resolution to assign a new name or designation to the relevant shares. This could either be the same as an existing class of shares, or a new designation. Leonid Dzhepko) |
