... resolutions which directly affect them. Redeemable shares Both ordinary and preference shares are redeemable. These shares will be redeemed at some specified time, or they may be redeemed at the company's or shareholder's option. Majority rule of shareholders: All the powers of a company may be exercised either by the shareholders in general meeting. A company's decisions are made on the basis of majority rule. Statutory protection of minority: The ordinance provides certain safeguards in an effort to ensure that the majority power principle is not abused. - The holders of 5 percent of the paid-up capital of the company which carries the right to vote at general meetings may requisition the directors to call a meeting. - in the event of a successful take-over offer, the minority who did not accept the offer have the right to be bought out - in the event of a successful general offer to buy back shares, the minority who ...

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