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What would be the point of having different classes of shares in a home unit company?

A company can issue different classes of shares with the rights and restrictions attached to them relating to distributions, voting and receiving notice of meetings, distinguishing it from other classes. Shares in a home unit company represent the flats or units within the block and are generally split into different “share groups”. The unit entitlements are expressed as a percentage and the share groups denote a particular lot or unit to which the shareholder(s) are entitled to. It is for this reason that we believe issuing different classes of shares would be futile. As such, the Patricia Holdings Home Unit Company Constitution only allows for ordinary class shares to be issued at the time of registration.

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