CmaBylaw
Executive Bylaws
5-9 Of Module Eleven: Dealing in Securities
Section: Chapter Five: Securities Subscription
-
Sunday, 12 February 2017
Rights arising from Securities shall include the following: 1. In the case of issuing or offering ordinary Shares, the rights arising from such shares shall be as follows: a. Voting rights. b. Short-term rate of profitability of the shares. c. Rights upon the Issuer’s liquidation. d. rights in the event that he subscription is not covered. 2. In the case of issuing or offering Preferred Shares, the relevant rights shall include the following: a. Profits to be distributed among the holders of Preferred Shares, with provisions determining the periods of distribution of dividends. b. Any restrictions on payment of dividends for Shares. c. Rights of the holders of Preferred Shares concerning voting, profits, liquidation proceeds of the company and any other rights. d. Terms and conditions to redeem convertible Preferred Share. e. Terms and conditions for the conversion of Preferred Shares into ordinary Shares. f. Procedure for exercising rights relating to Preferred Shares before and after being converted. g. Disclaimer of liability stated in Article (13-13) in this Module. 3. In the case of issuing or offering Bonds, Sukuk or any other debt instruments. the rights arising from such shares shall be as follows : a. Payable returns. b. Date of payment. c. Redemption payment. d. Provisions of formation and operation of the Bondsholders and Sukukholders Association. e. Events which would lead to the acceleration of the redemption or redemption of Bonds and Sukuk. f. Terms and conditions of converting Bonds and Sukuk into ordinary Shares. g. Rights of the Bondholders and Sukukholders, in the event that the Issuer or Obligor is bankrupt, wound up or liquidated.
Related pages - By Law
Related Pages
CmaSideNavigation
In this section

We use cookies to ensure you get the best experience on our website.