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Recital 4

Recital 4

(4)A multiple-vote share (MVS) structure is a form of control-enhancing mechanism, which can enable controlling shareholders to retain decision-making power in a company while raising funds from the public. An MVS structure involves at least two distinct classes of shares, each with a different number of votes per share. Under such a structure, at least one of the classes of shares has a lower number of votes per share than another class or classes of shares with voting rights. A share carrying a higher number of votes is an MVS. An MVS structure as defined in this Directive is not a structure where differences in voting rights are solely determined by different nominal values of shares.

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