- 20 Marks
BCL – L1 – Q76 – Company meetings and resolutions
Identify resolutions affecting shares that require court confirmation under Act 992.
Question
(a). Indicate resolutions affecting shares that are subject to confirmation by the court.
(b). The class A equity shareholders passed an ordinary resolution abolishing special dividend payment and voting rights of class B equity shareholders stipulated in the constitution. In exchange for these rights, the class A shareholders agreed to pay each class B shareholder GH $20,000. The class B shareholders are opposed to the new deal.
Propose a resolution.
(c). Explain the nature of priority of charges.
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