|In Issue as at 1st January 2020|
|Non-voting priority dividend ordinary shares of 12.5p each (NVPOs)||45,271,125|
|8% irredeemable preference shares||4,800,000|
|10% irredeemable preference shares||3,600,000|
|Ordinary shares of 12.5p each||13,811,255|
Major Shareholders - At 1st January 2020
|Marshall Family Trusts||39.9%||52.6%|
|Executors of the Estate of Sir Michael Marshall (deceased)||4.8%||22.0%*|
Transfer of Shares
Only NVPOs and preference shares tend to be traded openly. These transactions are completed on a matched bargain basis operated by James Sharp & Co (contact Josh McArdle on 0161 764 4043).
An Ordinary share may only be transferred to any person who is a direct lineal descendant from David Gregory Marshall either by birth or adoption, or any person or entity who is approved by way of consent by special majority (50% or more) of the holders of Ordinary shares.
Rights of NVPO Shares
NVPO shares rank pari passu with Ordinary shares except for the following:
Rights of Preference Shares
Right of Conversion of Ordinary Shares
The Ordinary shares have a limited right of conversion into NVPO shares. Any holder of Ordinary shares may, at any time during the period of two months immediately following the AGM in each year, elect to convert Ordinary shares into NVPO shares. The rate of conversion is one NVPO share for each Ordinary share.
Further details on the limitations, rights and conversion of shares can be obtained from the Articles of Association.