It is important when establishing a company online that you order a constitution that is going to meet the needs and achieve the objectives of you or your client. That is why the PGG Legal Standard Private Company, which can be ordered through PGG Online, has been drafted with a comprehensive set of share classes that confer on the holders of such shares with a wide variety of rights.
If you have any questions or require a customised constitution or additional share classes, please contact us at online@petergell.com.au so that we can assist you.
Share class summary table
| Share Class | Right to vote | Right to participate in dividends | Entitled to attend meeting of company’s members | Return of capital + surplus assets 1 | Return of capital without surplus assets2 | Redeemable shares | Right to appoint new sole director 3 |
|---|---|---|---|---|---|---|---|
| Ordinary | |||||||
| A Class | |||||||
| B Class | |||||||
| C Class | |||||||
| D Class | |||||||
| E Class | |||||||
| F Class | |||||||
| G Class | |||||||
| H Class | Exceptions 4 | ||||||
| I Class | Exceptions 4 | ||||||
| J Class | |||||||
| K Class | |||||||
| L Class |
2 Return of capital but no right to surplus assets on liquidation
3 Right to appoint new sole director in specified circumstances affecting the sole director
4 Does not confer a right to vote at meetings except in one or more of the following circumstances:
- - on a proposal to reduce the share capital of the company;
- - on a proposal that affects rights attached to the “H” or “I” redeemable preference shares;
- - on a proposal for the disposal of the whole property, business and undertaking of the company; and/or
- - during the winding up of the company
Description of share classes
Ordinary, “A” & “B” class shares confer a right to:
- Right to vote
- Right to participate in dividends
- Return of capital + surplus assets on liquidation
“C” class shares:
- No right to dividends
- No right to vote
- Entitled to attend meetings of company’s members
- Return of capital + surplus assets on liquidation (equal rank with ordinary shares)
“D” class shares:
- Entitled to attend meetings of company’s members
- Right to vote
- No right to dividends
- Return of capital but no right to surplus assets on liquidation
“E” and “F” class shares:
- No right to vote
- Entitled to attend meetings of company’s members
- Right to participate in dividends
- Return of capital but no right to surplus assets on liquidation
“H” redeemable preference class shares
- Right to attend meetings of company’s members
- Right to vote on certain circumstances
- Right to participate in dividends
- Return of capital but no right to surplus assets on liquidation
- Shares are redeemable
“I” redeemable preference class shares
- Right to attend meetings of company’s members
- Right to vote on certain circumstances
- Right to participate in dividends
- Return of capital but no right to surplus assets on liquidation
- Shares are redeemable
“J” class shares
- No right to vote
- Entitled to attend meetings of company’s members
- Return of capital (equal rank with ordinary shares) but no right to surplus assets on liquidation
- Right to appoint new sole director in specified circumstances affecting the sole director
“K” class dividend access shares
- No right to vote
- Entitled to attend meetings of company’s members
- Right to participate in dividends
- Return of capital (equal rank with ordinary shares) but no right to surplus assets on liquidation
“L” class dividend access shares
- No right to vote
- Entitled to attend meetings of company’s members
- Right to participate in dividends
- Return of capital (equal rank with ordinary shares) but no right to surplus assets on liquidation
If you have any questions or require a customised constitution or additional share classes, please contact us at online@petergell.com.au so that we can assist you.
