What distribution do different share classes take?

[eteb3]

Say a company has 100 shares, 50 with nominal value 1p, and 50 with £1.

On dissolution, does each share get the same amount (=capital/100), or do the 1p shareholders get 100th of what the £1 shareholders get?

Thanks. (Not a homework question )

 

[Ozzy]

Say a company has 100 shares, 50 with nominal value 1p, and 50 with £1.

For this to exist the shares would need to differing classes of shares, and on that basis it will depend on the particulars defined on those shares. A share class can and equally cannot have distribution rights, plus any other rules such as dividend rights or voting rights.

So, it depends on what was defined for the shares when they were created.