Ordinary shares
The holders of ordinary shares are entitled to one vote per share at meetings of the Company.
Management shares
There are two management shares on issue in the company.
The voting rights applying to the management shares are contained in paragraph 4.5 of the company’s constitution. The holder of the management shares when present in person or by proxy or attorney at any general meeting of the Company is on a poll or any resolution entitled to as many votes as shall together with votes which the holder may exercise in respect of the shares held solely by him in his own capacity and not as trustee, attorney or otherwise as shall institute thirty per centum (30%) of the votes given personally or by proxy or attorney on such resolution.
The terms of the management shares have not changed during the current financial year.
On pages 6 to 17 of the Charter’s 2009 annual report the company has set out its corporate governance policies. By way of addendum to that report the Charter board adds the following statement:
+ Because of the long term nature of the company’s investment activities the true value of its investments are not always reflected
in its share price which could lead, in other structures, to takeover activity at less than fair value;
+ Provides the Company with a stable governance structure to move forward whilst it has a relatively small capital base;
+ Allows capital to be raised without destabilising the management and board structure.
Options
There are no voting rights attached to the options.