Article 25 - Rights Attaching to Shares

(1) To the extent permitted by its articles of association, an Investment Club may create different classes of Shares. Subject to these Regulations, the rights attaching to Shares (or any class of Shares) shall be determined by the articles of association of the Investment Club.
(2) The articles of association of the Investment Club shall set out:
a. the right to vote at a meeting of the Investment Club carried by each class of Share;
b. the right to repayments of capital attaching to each class of Share;
c. the right to participate in any undistributed profit of each class of Share;
d. the rights and obligations pertaining to the transfer of each class of Share;
e. the right to dividends and other distributions attaching to each class of Share; and
f. any other rights and obligations attaching to each class of Share.
(3) Subject to the provisions of the articles of association of the Investment Club, each Share in the same class shall rank in all respects equally with any other Share in the Investment Club.
(4) It shall not be lawful for an Investment Club to issue bearer Shares.
Derived (as from 20th December 2016).