Types Of Share Capital

Question 1

6 types of share capital?

Answer 1

Issued 
Paid up 
Uncalled 
Called up 
Bonus issue 
Rights issue

Question 2

What are issued shares?

What does paid up mean?

Answer 2

Share capital that has actually been issued, released or sold by a company
The amount paid by shareholders on the shares issued

Question 3

What are uncalled shares?

What are called up shares?

Answer 3

The amount of unpaid share capital on shares not yet called for
The amount of unpaid share capital on shares called for not yet paid

Question 4

What is a bonus issue?
What is not raised?
What is a rights issue?
What is raised?

Answer 4

Using company reserves to issue fully paid shares to existing shareholders in proportion to their shareholding
Funds
New shares issued to existing share holders in proportion to their shareholding at a discounted price
Funds

Question 5

What are class rights?
Eg class of shares?(3)
What is the procedure of distribution depending on? 
What must be used if specified?
If not specified?

Answer 5

Special rights attached to each class of shares
Dividends, capital distribution on winding up and votes
Procedure for the distribution of rights depends on whether it is specified in articles
Procedure set out in articles must be followed
Variation needs special resolution or written resolution of 75% consent of nominal value of class CA06 S630

Question 6

Case where bonus issue is not a variation of class rights?
Case where subdivision of shares is not a variation of class rights?

Answer 6

White v Bristol aeroplane

Greenhalgh v Arderne Cinemas

Question 7

Minority protection rights CA06 S633
Who is it for?
What can they do?
When?

Answer 7

The 15% of nominal value who did not consent to variation
Appeal to the courts
Within 21 days of variation