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Greenhalgh v Arderne Cinemas Ltd [1946] 1 All ER 512

By Oxbridge Law TeamUpdated 04/01/2024 07:05

Judgement for the case Greenhalgh v Arderne Cinemas Ltd

Table Of Contents

  • Company’s ordinary shares were divided into 50p shares, and 10p shares.

  • Articles provided for each share (regardless of value) to get one vote each. Was proposed to sub-divide 50p shares into 10p shares, so that holders of 50p shares would then get 5 votes per share.

Held

  • Rights of 10p shareholders were not varied

    • I.e. was no formal change in rights attaching to 10p shares

    • This even though voting effectiveness of 10p shareholders was significantly diminished

  • However had the proposal been to simply give 50p shareholders 5 votes per share, this would have been variation

    • I.e. as 10p shares had a right to voting power paripassu with other ordinary shares

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Company law Notes
805 total pages
1071 purchased

Company law notes fully updated for recent exams in the UK. These notes...