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COV » Topics » ALTERATION OF CAPITAL

This excerpt taken from the COV DEF 14A filed Apr 24, 2009.

ALTERATION OF CAPITAL

 

24. The Company may from time to time by Ordinary Resolution increase the authorised share capital by such sum, to be divided into shares of such amount, as the resolution shall prescribe.

 

25. The Company may by Ordinary Resolution:

 

  (a) consolidate and divide all or any of its share capital into shares of larger amount than its existing shares;

 

  (b) subdivide its existing shares, or any of them, into shares of smaller amount than is fixed by the memorandum of association subject, nevertheless, to section 68(1)(d) of the Act; or

 

  (c) cancel any shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any person and reduce the amount of its authorised share capital by the amount of the shares so cancelled.

 

26. The Company may by Special Resolution reduce its share capital, any capital redemption reserve fund or any share premium account in any manner and with and subject to any incident authorised, and consent required, by law.
This excerpt taken from the COV 8-K filed Jul 5, 2007.

ALTERATION OF CAPITAL

16.                                 Alteration of Capital.  The Company may from time to time by resolution of the shareholders:

A.                                   increase its authorized share capital by new shares of such amount as it thinks expedient;

B.                                     consolidate and divide all or any of its share capital into shares of larger par value than its existing shares;

C.                                     subdivide its shares or any of them into shares of smaller amount than is fixed by its Memorandum of Association (the “Memorandum”), so, however, that in the subdivision the proportion between the amount paid and the amount, if any, unpaid on each reduced share shall be the same as it was in the case of the share from which the reduced share is derived; and

D.                                    cancel shares which, at the date of the passing of the resolution in that behalf, have not been taken or agreed to be taken by any person, and diminish the amount of its share capital by the amount of the shares so cancelled.

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 24, 2009
8-K
Jul 5, 2007

RELATED TOPICS for COV:

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