Section 69 of the Companies Act 2016
According to the Constitution of the Company, shares in a company may be:
- Issued in different classes
- Redeemable, if they are preference shares in accordance with Section 72
- Confer preferential rights in terms of:
- Dividends
- Distribution of capital or income
- Confer special, conditional or no voting rights
Section 71 of the Companies Act 2016
An ordinary share in a company confers on its holder:
- The right to attend, participate and speak at shareholders’ meetings
- The right to vote on a show of hands on any members’ resolution
- The right to one vote per share on a poll on any members’ resolution
- The right to an equal share in the distribution of the surplus assets
- The right to share in dividends as authorized by the Board of Directors