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Question 1. You have been contacted by Finken plc (Finken). Finken has only ordinary shares in issue. It is considering an issue of 3% redeemable

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1. You have been contacted by Finken plc (Finken). Finken has only ordinary shares in issue. It is considering an issue of 3% redeemable participating preference shares. Required:

(a) Advise Finken what class rights are.

(b) Advise Finken on how class rights arise and how they can be altered. You should refer to authority in your answer.

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