As far as I know the dividend only has to be 3 cents above the ordinary share dividend. The directors could decide to pay 1 cent ordinary, 4 cents preference, this would be cheaper than paying 10 cents preference, would be in accordance with the artivles uinder which the preferences were issued, and it would prevent voting rights passing to the preference holders.
The whole thing is just too risky to hold.
TDF
As far as I know the dividend only has to be 3 cents above the...
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