Commentary

47 Method of obtaining subscriptions etc

COMPANIES vol 10(2) borrowing and debentures
| Commentary

47 Method of obtaining subscriptions etc

| Commentary

G: ISSUE OF DEBENTURES AND DEBENTURE STOCK

47 Method of obtaining subscriptions etc1

Offers of debentures are subject to the same statutory provisions applying to offers of securities generally2. The issue of debentures or debenture stock can be subscribed for privately amongst existing share or debenture holders or (where the company is a public company) by public subscription3. Care should be taken with debentures or debenture stock which have conversion rights to ensure that the provisions of the Companies Act 2006 are complied with4. These deal with protection for existing shareholders where a

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