Fantazzyd..to take up your point, it is interesting that the definition of Contributing Shares/Partly Paid shares on BSC's registry website (Link Market Services) says you can forfeit shares if you don't pay the instalment. I guess one could argue that if purchased post float, one might reasonably rely on the Company's registrar to get the terms of such shares?
Quote from Link Site:
Contributing Shares Shares on which only part of their par value (formerly the share premium) has been paid. For example shares may be issued with a par value of $1.00, of which only 50 cents has been paid, with a further 50 cents still owing. At the call date, the Investors of no liability companies can forfeit their shares instead of paying the call. Also known as Partly Paid Shares.
Contributing shares are similar to partly paid shares, with the exception that a date for the payment of the call date has not been set by the Issuer
BCS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
