Bermuda’s ACE Limited announced that its shareholders have approved a proposal increasing the number of authorized Ordinary Shares by 200 million, bringing their total to 500 million.
The approval was given at an Extraordinary General Meeting held January 22. The shareholders also approved a proposal increasing the number of authorized “Other Shares” from 10 million to 20 million shares.”The Other Shares may be issued in one or more classes or series with the terms, such as the dividend rate, voting rights, conversion rights, conversion rates, rights and terms of redemption and other rights, preferences and restrictions, established by the Board of Directors of the Company,” said the announcement.
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