Can a Series A share be converted to a Series B share or vice versa?
In most cases, the easiest way to do so is for the shareholder to sell his shares on the stock exchange and then replace them by purchasing shares of the other series. According to the Articles of Association, Series A shares can be converted to Series B shares. In such cases, the shareholder must submit a share conversion application in writing to the company’s Board of Directors. The Board of Directors must process such applications within three months of submission. A fee will be charged from the shareholder for the conversion, as decided on by the Board of Directors; in practice, the fee covers the costs incurred by the company for the conversion. According to the Articles of Association, Series B shares cannot be converted to Series A shares.
