| Commentary

170 Issue of share warrants

| Commentary

2: WARRANTS

170 Issue of share warrants

Before 26 May 2015, a company limited by shares could, if so authorised by its articles, issue a warrant (a ‘share warrant’) stating that the bearer of the warrant was entitled to the shares specified in it1. The shares in question must be fully paid shares. A share warrant issued under the company’s common seal entitled the bearer to the shares specified in it and the shares could be transferred by delivery of the warrant2. A company which issued a share warrant could, if so authorised by its articles, provide (by coupons or otherwise)

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