ACCA · Question 15 · Capital and the financing of companies
A renewable energy company wants to vary the rights attached to its class of preference shares.
Under the Companies Act 2006, which TWO of the following methods can legally be used to approve a variation of class rights (assuming the articles do not specify a different procedure)?
Answer options:
Consent in writing from holders of at least 75% in nominal value of the issued shares of that class.
An ordinary resolution passed at a general meeting of all company shareholders.
A special resolution passed at a separate general meeting of the holders of that class.
A unilateral declaration by the board of directors.
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