White v Bristol Aeroplane [1953] 2 WLR 144
Country:
United Kingdom
Reviewed By Oxbridge Law Team
Updated 2024-01-04 07:05:49 UTC
Articles of company had provision requiring special procedure to be followed where class rights were to be ‘affected’ in any manner.
Company proposed to issue new preference shares ranking paripassu with existing preference shares.
Held
Rights of existing preference shareholders were not affected by issue of paripassu preference shares.
This because in formal terms rights of preference shareholder would be the same, albeit that the voting power attached to each preference share would be less effective than before
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