The following Corporate precedent provides comprehensive and up to date legal information covering:
Authority to allot shares—no distinction made between different classes of shares (general or specific authority)
[Without prejudice to section 550 of the CA 2006 and] [subject OR Subject] to article 1.2[, OR and] 1.3 [and [insert reference to any relevant articles that set out pre-emption rights]], the directors are [generally and unconditionally authorised, for the purpose of section 551 of the CA 2006 and generally, to exercise all and any powers of the company to allot shares and to grant rights to subscribe for, or to convert any security into, shares in the company to any person, at any time and subject to any terms and conditions as the directors think proper, up to an aggregate nominal amount of £[insert maximum nominal amount] OR specifically authorised, for the purpose of section 551 of the CA 2006 and generally, to [insert details of the specific authority to allot and to grant rights to subscribe for, or to convert any security into, shares in the company, including any conditions that it may be subject to]].
The authority set out in article 1.1 shall expire (unless previously varied as to duration or renewed by ordinary resolution of the company) [on [insert a date being not more than five years from the date that the articles are adopted] OR five years after the date on which these
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