Golden share | Practical Law

Golden share | Practical Law

Golden share

Golden share

Practical Law UK Glossary 4-107-6657 (Approx. 4 pages)

Glossary

Golden share

A single special rights share in a company held by a government minister which gives the holder rights that other shareholders do not have. Rights are set out in the company's articles of association and may include requiring the holder's consent for a change of control, material disposals, share issues or a voluntary winding up. Has an extremely limited right to share in distributions by the company, often only on winding up. Transferrable only to another secretary of state. Often a redeemable preference share but may be a B ordinary share or similar.
Also referred to as a special share.