Escolar Documentos
Profissional Documentos
Cultura Documentos
Preference shares have preference over ordinary shares with respect to dividend
payments and in the event of liquidation i.e. payments are made to preference share
holders before any payments are made to holders of ordinary shares. Preference
shares usually carry a fixed dividend amount, are usually callable at the option of the
issuing company and generally have no voting rights. They may also have an option for
conversion to ordinary shares.
RESPONSIBILITIES OF DIRECTORS¶
1. Responsibilities of directors¶ and managers of a Company are to ensure accounting records and
other documents related to the transaction and financial position of the Company are properly
record and to enable production of true and fair view of profit and loss accounts, balance sheets
and other necessary document.
2. For company with subsidiaries the directors¶ must make sure that the financial year of each of its
subsidiaries coincide the holding company¶s financial year within two years after any corporation
becomes subsidiaries unless application is made to SSM to have the subsidiaries with different
financial year.
3. At every annual general meeting of the company, the directors¶ requested to present before the
company once in every calendar year an audited accounts made for the period since the
proceeding accounts made up to a date not more than 6 months before the date of the meeting.
4. To prepare a report in accordance with a resolution of the directors¶ to be attached to every
balance sheet laid before the company in general meeting.