First Preferred Shares definition
Examples of First Preferred Shares in a sentence
The authorized share capital of the Company consists of an unlimited number of common shares, Class B shares and First Preferred Shares, in each case without nominal or par value.
The Committee will review capital transactions and may designate and authorize the issue of (i) First Preferred Shares and (ii) securities qualifying as additional Tier 1 capital under capital adequacy guidelines issued by the Superintendent of Financial Institutions.
First Preferred Shares have voting rights as decided upon by the board of directors at the time of grant.
Holders of First Preferred Shares are not entitled to vote unless and until the Company fails to pay in the aggregate eight quarterly dividends on any series of First Preferred Shares.
Upon dissolution or wind-up of the Company, First Preferred Shares are entitled to priority over common and Class B shares.