5 Dec 2012
GRANT ALEXANDER COCHRANE, NOEL BRENT COCHRANE AND LARRY PETER COCHRANE V TOTARA PROPERTIES WHANGAREI LTD HC WHA CIV-2012-488-177
- Citation
- openlaw-2dfc2bd1_be9f_4973_90b0_39815d8a27e2.pdf
- Court
- High Court
Clause 2.2 confines the distinction between Class A and Class B shares to voting rights only; there is no express provision granting the Class A share preferential dividend rights, so cl 4.1(1)(b) preserves the equal right of all shares to share in authorised dividends and thereby restricts the board (and the permanent director) from authorising a dividend that applies to the Class A share alone without Class B shares sharing equally.