Question
1. SAFPL has two classes of shares on issue ordinary shares and A Class shares. Under the terms of the SAFPL constitution, each A Class
1. SAFPL has two classes of shares on issue ordinary shares and A Class shares. Under the terms of the SAFPL constitution, each A Class share currently carries an entitlement to vote on any resolution to amend the companys constitution. The directors of SAFPL would like to have the constitution amended so that A Class cannot vote on constitutional amendments. Is this possible? If so, what would be required to make that amendment?
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2. As a listed public company, AMGL is required to produce a remuneration report to be voted on by shareholders at its annual general meeting (AGM). Two of its shareholders, ABC Asset Management LP and Canny Ltd, have indicated to AMGLs chairman that they intend to vote against the report at the AGM because they believe the remuneration arrangements for senior executives are too generous. They think a number of small shareholders will vote with them. What would be the effect on AMGL if more than 25% of the shareholders vote no to the report at the next AGM?
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