Incorporation and Shares
On 18 October 1922, the British Broadcasting Company, Ltd. was incorporated under the 1908 to 1917 Companies Acts with a share capital of £100,000., with 99,993 cumulative ordinary shares valued at £1 each:
The holders of the Cumulative Ordinary Shares are entitled to receive out of the profits of the Company a fixed Cumulative Dividend at the rate of 7½% per annum on the capital for the time being paid up thereon but are not entitled to any further or other participation in profits.
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