SP Ltd is a private company limited by shares, which has adopted Table A as its articles of association. The issued share capital of SP Ltd is divided into 1,000 ordinary shares of nominal value EUR1 each and 1,000 preference shares of nominal value EUR1 each. Both ordinary and preference shares carry one voting right each. Simos owns 300 ordinary shares and 150 preference shares. Panos owns 700 ordinary shares and 850 preference shares. Panos wishes to amend certain provisions of the articles of association of SP Ltd, including the rights attached to the preference shares, but Simos objects.Required:Advise Panos and Simos respectively as to their legal rights and obligations in relation to the proposed amendments by Panos. (10 marks)
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