Prescribed particulars (of rights attached to shares)
Our last group of illustrious leaders continue to tie us up in ever increasing amounts of red tape.
The Companies House annual return now requires details on the prescribed particulars (of rights attached to shares) to be provided.
Its not as if this information is not already available in the Articles of Association, a document available to anyone (for an appropriate fee).
After much hunting around the web it appears the definitive answer can be found in the FAQ section on the Companies House web site.
So it looks like future returns will contain the text:
- each share is entitled to one vote in any circumstances
- each share is entitled pari passu to dividend payments or any other distribution
- each share is entitled pari passu to participate in a distribution arising from a winding up of the company
- redeemable shares have not been issued