As a cooperative we are required to conform with the Cooperative Company Act and the Companies Act. The co-operative status requires a Transacting Share, which must retain at least 60% of the voting for any voting that may be required. Any other share types can either be non-voting or not more than 40% of the total voting rights.
We have the Transacting Share (T-Share) which has an issue value of $365 per share, restricted to one share per person or entity.
We also have a Supporting Share (S-Share). All Supporting shares are non-voting and are preference shares. The issue value of the S-Share is $1, and there is no restriction on the number of S-Shares that can be held. With the exception of the requirement of the Financial Markets Conduct Authority, applicable to small cooperatives. Please see the following for details: