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Pref shares

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Pref shares

  • This topic has 3 replies, 2 voices, and was last updated 2 years ago by MikeLittle.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • August 21, 2023 at 1:16 pm #690376
    whydoyoucare
    Participant
    • Topics: 50
    • Replies: 46
    • ☆☆

    Which of the following is NORMALLY a right of preference shares?
    1 They carry full voting rights at company meetings
    2 They carry a right to attend company meetings
    3 They carry a ‘fixed’ right to dividend that is cumulative
    A 1 and 2
    B 1 and 3
    C 2 and 3
    D 3 only

    Can pref shareholders attend company meetings? And what about AGM?

    August 21, 2023 at 1:42 pm #690379
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    Yes, preference shareholders typically have the right to attend company meetings and to participate at those meetings. Their rights may be restricted by the company’s constitution.

    Clearly ‘They carry full voting rights at company meetings’ is incorrect so that narrows your options down to C or D. Now that means you only need consider point number 2 – the right to attend company meetings. Yes or No?

    My answer to this question would be option C

    OK?

    August 21, 2023 at 1:42 pm #690380
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    Yes, preference shareholders typically have the right to attend company meetings and to participate at those meetings. Their rights may be restricted by the company’s constitution.

    Clearly ‘They carry full voting rights at company meetings’ is incorrect so that narrows your options down to C or D. Now that means you only need consider point number 2 – the right to attend company meetings. Yes or No?

    My answer to this question would be option C

    OK?

    August 22, 2023 at 10:22 am #690446
    whydoyoucare
    Participant
    • Topics: 50
    • Replies: 46
    • ☆☆

    Can they attend Agm?

    August 22, 2023 at 7:37 pm #690480
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23334
    • ☆☆☆☆☆

    Normally, yes. Unless (unusually) they are prevented from doing so by the company’s constitution.

    OK?

  • Author
    Posts
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