Part V Share Capital, its Increase, Maintenance and Reduction

Chapter VIII Miscellaneous Provisions about Shares and Debentures

Share and debenture certificates, transfers and warrants

188F1 Issue and effect of share warrant to bearer.

1

A company limited by shares may, if so authorised by its articles, issue with respect to any fully paid shares a warrant (“a share warrant”) stating that the bearer of the warrant is entitled to the shares specified in it.

2

A share warrant issued under the company’s common seal . . . F2entitles the bearer to the shares specified in it; and the shares may be transferred by delivery of the warrant.

3

A company which issues a share warrant may, if so authorised by its articles, provide (by coupons or otherwise) for the payment of the future dividends on the shares included in the warrant.