SHARE WARRANTS 
II] 
Upon making an issue of share warrants the following 
points require consideration: 
(1) The power of the company and the directors to issue 
share warrants under the articles of association. 
(2) The denominations to be issued, that is to say, the 
number of shares to be comprised in each class of warrant 
it is proposed to have printed, e.g. it may be decided to issue 
warrants in three classes representing I, 5 and 25 shares per 
warrant respectively. Each warrant should be given a 
distinctive serial number, and the respective denominations 
should be denoted by an initial letter, so that if the warrants 
are in denominations of 1, 5 and 25 shares respectively, 
warrants for 1 share would have the letter A before the 
warrant number, warrants for 5 shares would have the 
letter B, and warrants for 25 shares would have the letter C. 
In each denomination the numbers of the warrants printed 
could commence with the number one. It is usual to have 
each class of warrant printed on a distinctive coloured paper. 
The distinguishing numbers of the shares comprised in each 
warrant would be written in by hand when the warrant is 
being issued. 
(3) The conditions of issue must in no way controvert the 
articles of association. A specimen set of conditions is 
given hereunder: 
1. Share warrants shall be issued in denominations of I, 5 and 25 
shares. 
2. No share warrant shall be issued, except upon a request in writing 
by the person for the time being upon the register of members as the 
holder of the share or shares in respect of which the share warrant is 
to be issued, or in exchange for other share warrants. 
3. The request shall be in such form and authenticated by such 
statutory declaration or other evidence as to the identity of the person 
making the same, and of his right or title to the share or shares as the 
directors shall from time to time require, and is to be lodged at the 
registered office of the company, or elsewhere. as the directors shall 
from time to time determine. 
4. Before the issue of a share warrant the share certificate (if any) 
then outstanding in respect of the share or shares intended to be 
included in it must be delivered up to the company and retained by 
it, unless the directors shall dispense with this condition for special 
reasnns 
5. Any member applying to have a share warrant issued shall, at 
the time of the application, pay to the company any stamp duty 
payable in respect thereof, and also such fee for each share warrant 
as the directors shall from time to time determine. 
6. Share Warrants shall be issued under the common seal of the 
company and authenticated in such manner as the directors shall 
from time to time determine.