Nov. 20 at 4:02 PM
$TCBP I am not sure whether this kind of situation is common, and I would appreciate it if you could also look into it.
1. The company recently adopted a deferred share structure. As a result, the rights of existing ordinary shareholders were reduced to almost nothing, and they effectively lost any ability to claim residual assets in the event of liquidation.
2. At the time the company introduced the deferred share structure, it stated that the purpose was to enable more flexible share issuance under the restrictions of UK company law. However, as you know, the company entered administration less than a month after adopting this structure and ultimately proceeded to liquidation. This clearly shows that the adoption of deferred shares was inconsistent with the stated purpose of facilitating new share issuance.