Schroders board proposes reform of share class structure through enfranchisement

All shareholders will have same voting rights

Schroders has set out a number of proposals aimed at simplifying its dual share class structure through the enfranchisement of the non-voting ordinary shares.

The board of Schroders said the change to its share class structure will give all shareholders the same voting rights and increase the liquidity of the shares. Under the enfranchisement proposals, each non-voting share will be converted into one ordinary share and those re-designated shares will have the same rights as the existing ordinary shares, including full voting rights. The holders of ordinary shares in Schroders will receive a bonus issue of three additional ordinary shares for every 17 ordinary shares held on a date to be determined, in an effort to "compensate them for the ...