This shares capital description preferred shares template has 14 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our shares capital description preferred shares template:
SHARES CAPITAL DESCRIPTION DESCRIPTION OF SHARE CAPITAL Characteristics: Class [SPECIFY] common shares: Voting, dividends: as declared by Board, subject to the rights of other classes of shares; right to remaining property pari passu with Class [SPECIFY] common shares. Class [SPECIFY] common shares: Non voting, dividends as declared by Board, subject to the rights of other classes of shares; right to remaining property pari passu with Class [SPECIFY] common shares. Class [SPECIFY] preferred shares: - Voting. - Dividend: rank [NUMBER], non-cumulative, fixed rate of [PERCENTAGE %] per annum payable, each month, in money, property or issue of shares calculated on redemption price; Redemption price = monetary consideration upon issuance or FMV of consideration received upon issuance, the whole on generally accepted accounting and valuation principles, subject to revision by the taxation authorities. If part of consideration received is added to stated capital account, then deemed to have been issued for the full amount of the consideration received except Class [SPECIFY] stated capital. - Liquidation: rank [NUMBER]; price = redemption price + dividends. - Redeemable by the Corporation at redemption price on [NUMBER] day notice - Can be purchased for cancellation; price=lowest price obtainable but not exceeding redemption price - Changes to voting or stated capital clause = [FRACTION] of votes in addition to other approval required by the Act. Class [SPECIFY] preferred shares: - Non voting. - Dividends: rank [NUMBER], non-cumulative, [NUMBER] [PERCENTAGE %] per month calculated on redemption price, payable in money, property or issue of shares of any class. - Liquidation: rank [NUMBER]. - Redeemable by the Corporation; price = redemption price + dividends, on one day notice. Redemption price = see Class [SPECIFY] preferred shares making appropriate changes for Class [SPECIFY]. - Can be purchased for cancellation. - Changes to voting or stated capital clause = [FRACTION] of votes in addition to other approval required by the Act. Class [SPECIFY] preferred shares: - Voting. - Dividends: ranking [NUMBER], non-cumulative, [NUMBER] [PERCENTAGE %] per month calculated on redemption price, payable in money, property or issue of shares of any class. - Liquidation: rank [NUMBER]. - Redeemable by the Corporation; price = redemption price + dividends, on one day notice. - Redeemable by the holder upon written request of [NUMBER] days notice and surrender of certificate at redemption price if not contrary to applicable [YOUR COUNTRY LAW]. If contrary to applicable [YOUR COUNTRY LAW], pro rata of purchase moneys allocable rounded to the next lower multiple of [AMOUNT]. Redemption price: see Class [SPECIFY] preferred shares with appropriate changes for Class [SPECIFY] preferred shares. - Can be purchased for cancellation - Changes to voting or stated capital clause = [FRACTION] of votes in addition to other approval required by the Act. Class [SPECIFY] preferred shares: - Non voting. - Dividend: ranking [NUMBER], non-cumulative, [NUMBER] [PERCENTAGE %] per month calculated on redemption price, payable in money, property of issue of shares. - Liquidation: rank [NUMBER]. - Redeemable by the Corporation. - Redeemable by holder: see Class [SPECIFY] preferred shares with appropriate changes for Class [SPECIFY] preferred shares. - Can be purchased for cancellation. - Changes to voting or stated capital clause = [FRACTION] of votes in addition to other approval required by the Act. SCHEDULE 1 3 - The classes and any maximum number of shares that the Corporation is authorized to issue Unlimited number of Class [SPECIFY] common shares; Unlimited number of Class [SPECIFY] common shares; Unlimited number of Class [SPECIFY] preferred shares; Unlimited number of Class [SPECIFY] preferred shares; Unlimited number of Class [SPECIFY] preferred shares; and Unlimited number of Class [SPECIFY] preferred shares. The [SPECIFY] common shares shall have attached thereto the following rights, privileges, restrictions and conditions: Each Class [SPECIFY] common share shall entitle the holder thereof to [NUMBER] vote at all meetings of the shareholders of the Corporation (except meetings at which only holders of another specified class of shares are entitled to vote pursuant to the provisions hereof or pursuant to the provisions of the [COUNTRY] Business Corporations [ACT/LAW/RULE] (hereinafter referred to as the "Act"). Subject to the provisions of the Act or as otherwise expressly provided herein, the holders of the Class [SPECIFY] common shares shall not be entitled to receive notice of, nor to attend or vote at meetings of the shareholders of the Corporation. In the event of the liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, or other distribution of assets of the Corporation among shareholders for the purpose of winding up its affairs, subject to the prior rights, privileges, restrictions and conditions attaching to the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares and to any other class of shares ranking prior to the Class [SPECIFY] common shares or the Class [SPECIFY] common shares, the holders of the Class [SPECIFY] common shares and the holders of the Class [SPECIFY] common shares shall be entitled to receive the remaining property of the Corporation. Subject to the prior rights, privileges, restrictions and conditions attaching to the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares, the Class [SPECIFY] preferred shares and to any other class of shares ranking prior to the Class [SPECIFY] common shares or the Class [SPECIFY] common shares, the holders of the Class [SPECIFY] common shares and the holders of the Class [SPECIFY] common shares are entitled to receive dividends when, as, to the extent and in such amounts as may be declared by the directors of the Corporation to be payable on each issued and outstanding Class [SPECIFY] common share and each issued and outstanding Class [SPECIFY] common share. The holders of the Class [SPECIFY] common shares and the holders of the Class [SPECIFY] common shares shall rank equally with respect to the payment of dividends and the distribution of assets in the event of the liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, or any other distribution of the assets of the Corporation among shareholders for the purpose of winding up its affairs. No dividend may be declared and paid on the Class [SPECIFY] common shares and the Class [SPECIFY] common shares which would result in the Corporation having insufficient net assets to redeem all of its issued and outstanding Class [SPECIFY] preferred shares, Class [SPECIFY] preferred shares, Class [SPECIFY] preferred shares and Class [SPECIFY] preferred shares. The [SPECIFY] preferred shares should have attached thereto the following rights, privileges, restrictions and conditions: Each Class [SPECIFY] preferred share shall entitle the holder thereof to [NUMBER] vote at all meetings of the shareholders of the Corporation (except meetings at which only holders of another specified class of shares are entitled to vote pursuant to the provisions of the Act). The holders of the Class [SPECIFY] preferred shares shall be entitled to receive during each month, as and when declared by the board of directors, but always in preference and priority to any payment of dividends on the other shares of the Corporation, non cumulative dividends at a fixed rate of [PERCENTAGE %] percent per annum calculated on the Class [SPECIFY] preferred redemption price (as hereinafter in paragraph II. (g) defined of each such share payable in money, property or by the issue of fully paid shares of any class of the Corporation
