The new constitution says we can have up to 10 directors -...

The new constitution says we can have up to 10 directors - imagine that!

The bit about the new constitution I don't like relates to preference shares.

Directors can allot preference shares without shareholder approval for each allotment.These shares if allotted would convey special rights in certain circumstances.

Circumstances such as repayment of capital, participation in surplus assets and profits, voting rights and priority of payment of capital and dividends.