Get the free 17-C(Reduction of Preferred Shares and JCT appointment) Feb 6 2014.doc

SECURITIES AND EXCHANGE COMMISSION SEC FO RM 17C CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER 1. February 6, 2014, Date of Report 2. SEC Identification

How to fill out 17-creduction of preferred shares

How to fill out 17-creduction of preferred shares:

1. Obtain the necessary forms: Start by acquiring the appropriate form for the 17-creduction of preferred shares. This form is typically provided by the relevant regulatory authority or the company issuing the shares.
2. Provide company and shareholder information: Fill out the form by providing the required information about the company issuing the preferred shares, such as its name, address, and identification number. Additionally, include the details of the shareholder who holds the preferred shares, including their name, contact information, and account number.
3. Specify the preferred shares to be reduced: Clearly indicate the preferred shares that are to be reduced in quantity or value. Include the specific class or series of shares and the corresponding number or value that needs to be reduced.
4. Document the reasons for the reduction: Explain the reasons behind the reduction of preferred shares. This could include factors such as a change in the company's financial position or restructuring efforts. It is essential to provide a clear and valid justification for the reduction.
5. Obtain necessary approvals: In some cases, obtaining approval from governing bodies, such as the board of directors or shareholders, may be required before the reduction can be implemented. Ensure that any necessary approvals are obtained and documented accordingly.
6. Review and sign the form: Carefully review the filled-out form for accuracy and completeness. Once satisfied, sign the form along with any other required parties, such as company representatives or legal advisors. Keep a copy for your records.

Who needs 17-creduction of preferred shares?

1. Companies undergoing financial restructuring: Companies that are facing financial challenges or restructuring efforts may need to reduce the quantity or value of preferred shares. This reduction can help improve the company's financial position or align the capital structure with its current needs.
2. Shareholders seeking liquidity: Shareholders who hold preferred shares and are in need of immediate liquidity or cash flow may opt for the reduction of their preferred shares. This allows them to convert their investment into cash, potentially enabling them to meet other financial obligations or opportunities.
3. Companies adjusting capital structure: Companies may choose to reduce preferred shares as part of their overall capital structure adjustments. This could involve aligning the ratio of preferred shares to common shares, modifying the terms of existing preferred shares, or addressing changes in ownership structure.

Note: It is important to consult with legal and financial professionals when dealing with the 17-creduction of preferred shares, as the specific requirements and regulations may vary based on the jurisdiction and company's circumstances.

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