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Date approved: October 2020
Review date: October 2023

1 Policy for admitting new shareholders

1.1 Introduction

This document sets out the Board’s policy for admitting new shareholders. The Board shall only admit new shareholders in accordance with this policy.

1.2 Definition

A shareholder is a person or body whose name and address are entered in the register of shareholders.

1.3 Role and nature of Shareholders

RHT Rules C1-C38 set out the role, nature and obligations of shareholdings for the Trust:

  • Obligations of Shareholders (C1)
  • Nature of shares (C2-4)
  • Nature of Shareholders (C5-10)
  • Admission of Shareholders (C11-13)
  • Ending of Shareholders (C14-15)

1.4 Admitting new Shareholders

In accordance with the Rule D7, all Non-Executive Board Directors will automatically become shareholders following their appointment to the Board. This does not apply to Board or Committee co-optees or Executive Directors.

1.5 Who can be a shareholder

The Rules set out the eligibility criteria for admission to shareholding members.

The Board will consider applications for membership in accordance with this policy and has absolute discretion to accept or reject an application.

The Policy is to only consider applications for shareholding membership from people who are currently Board directors or Committee members within the Group.

The register of shareholders includes a small number of shareholders who were members of the Trust before the Rules were changed in 2017, and who do not meet the criteria for shareholders under those Rules. Their position remains unchanged.

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