The Hongkong and Shanghai Banking Corporation.
Increase of capital.
9. (1) Subject to the provisions of section 7 of the Ordinance the shareholders in general meeting may from time to time increase the capital by the creation of new shares of such amount as may be deemed expedient.
(2) The new shares shall be issued upon such terms and conditions, and with such rights and privileges annexed thereto, as the general meeting resolving upon the creation thereof may direct, and if no direction be given, as the board shall determine; and in particular such shares may be issued with a preferential or qualified right to dividends and in the distribution of the assets of the bank, and with a special or without any right of voting.
(3) The shareholders in general meeting may before the issue of any new shares determine that the same or any of them shall be offered in the first instance, and either at par or at a premium, to all the then shareholders or any class thereof in proportion to the amount of the capital held by them, or make any other provisions as to the issue and allotment of the new shares; but in default of any such determination or so far as the same does not extend, the new shares may be dealt with as if they formed part of the shares in the original capital.
(4) Except so far as otherwise provided by the conditions of issue or by these presents, any capital raised by the creation of new shares shall be considered part of the original capital and shall be subject to the provisions herein contained with reference to the payment of calls and instalments, transfer and transmission, forfeiture, lien, voting and otherwise.
Shares-miscellaneous provisions.
10. (1) Every share shall be distinguished by its appropriate number.
(2) Every share shall be indivisible.
[CAP. 70
Power to increase capital;
terms and conditions of new shares;
issue;
when to be offered to existing shareholders;
how far to rank as original capital.
Numbering of shares;
share indivisible;
trusts not recognized;
(3) No notice of any trust, express, implied or constructive, shall be entered on any register and the bank shall be entitled to treat the registered holder of any share as the
Page 353
Page 353
Page 353
The Hongkong and Shanghai Banking Corporation.
Increase of capital.
9. (1) Subject to the provisions of section 7 of the Ordinance the shareholders in general meeting may from time to time increase the capital by the creation of new shares of such amount as may be deemed expedient.
(2) The new shares shall be issued upon such terms and conditions, and with such rights and privileges annexed thereto, as the general meeting resolving upon the creation thereof may direct, and if no direction be given, as the board shall determine; and in particular such shares may be issued with a preferentiai or qualified right to dividends and in the distribution of the assets of the bank, and with a special or without any right of voting.
(3) The shareholders in general meeting may before the issue of any new shares determine that the same or any of them shall be offered in the first instance, and either at par or at a premium, to all the then shareholders or any class thereof in proportion to the amount of the capital held by them, or make any other provisions as to the issue and allot- ment of the new shares; but in default of any such deter- mination or so far as the same does not extend, the new shares may be dealt with as if they formed part of the shares in the original capital.
(4) Except so far as otherwise provided by the condi- tions of issue or by these presents, any capital raised by the creation of new shares shall be considered part of the original capital and shall be subject to the provisions herein contained with reference to the payment of calls and instalments, transfer and transmission, forfeiture, lien, voting and otherwise.
Shares-miscellaneous provisions.
10. (1) Every share shall be distinguished by its appropriate number.
(2) Every share shall be indivisible.
[CAP. 70
Power to capital;
increase
terms and of new
conditions
issue;
when to be existing
offered to
shareholders;
how far to rank as capital.
new shares
original
Numbering of shares:
share indivisible;
recognized;
(3) No notice of any trust, express, implied or construc- trusts not tive, shall be entered on any register and the bank shall be entitled to treat the registered holder of any share as the
353
No comments yet.
Private notes are available after approval.