White v Bristol Aeroplane [1953] 2 WLR 144
Judgement for the case White v Bristol Aeroplane
Table Of Contents
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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