Subdivision of shares
13.2
One of the criteria for subdivision of shares, i.e. paragraph 13.05(b) of the Main LR is that the issued and paid up capital of the listed corporation must be unimpaired by losses on a consolidated basis ("Criterion (b)"). What does this mean?
It means that the listed corporation's shareholders' funds on a consolidated basis must be at least equal to or greater than the issued and paid up capital of the corporation.