Shares represent ownership interests in a company. A person who owns shares in a company is known as a Shareholder.

Shareholders’ rights and benefits can differ if the shares in the company are divided into different types or “classes”. Each share class may have a variety of characteristics associated with them including voting rights, dividend rights and liquidation preference. Some classes of shares may not carry the right to vote. These are referred to as non-voting shares. Other classes of shares may carry preferential rights to receive dividends or certain other benefits. These are referred to as Preferred Shares.

The rights attaching to the different types of shares are set out in a company’s Articles of Association. Clara categorizes shares as Ordinary, Ordinary (non-voting) or Preferred Shares.
​