622 Redenomination of share capital
Companies Act 2006 | Legislation

Redenomination of share capital

622  Redenomination of share capital

(1)     A limited company having a share capital may by resolution redenominate its share capital or any class of its share capital.

“Redenominate” means convert shares from having a fixed nominal value in one currency to having a fixed nominal value in another currency.

(2)     The conversion must be made at an appropriate spot rate of exchange specified in the resolution.

(3)     The rate must be either—

(a)     a rate prevailing on a day specified in the resolution, or

(b)     a rate determined by taking the average of rates prevailing on each consecutive day of

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