Shares or securities
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Except as set out below or as the context otherwise requires, references to shares, including when used in other expressions such as shareholders (but excluding equity share capital), include securities, and vice versa.
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In section 3(a) of the Introduction, in the first paragraph of section 3(b) of the Introduction and in former section 3(a) of the Introduction (as defined in the Transitional Appendix), the shares/securities referred to are only those shares/securities comprised in the company’s equity share capital (whether voting or non-voting) and other transferable securities carrying voting rights.