TYPES OF SHARES
Mauritius law contemplates three types of shares, an ordinary share, a preference share, and a participating preference share. An ordinary share is defined as a share which is not a preference share or a participating preference share.
PREFERENCE SHARE/PARTICIPATING PREFERENCE SHARE
Preference shares may be issued where the articles permit. The rights of the holders of preference shares in relation to other share must be clearly set out in the memorandum or articles with respect to:
a) repayment of capital
b) participation in surplus assets and profits
c) cumulative or non-cumulative dividends
d) voting, and
e) priority of payment of capital and dividend
A preference share is defined as one which entitles the holder to a dividend of a fixed amount, or not exceeding a fixed amount, whether cumulative or not, and, in a winding up, to repayment of capital, in priority to any other class of shares, but which confers no other rights in respect of
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