Schroders board proposes reform of share class structure through enfranchisement

The board of Schroders said the change to its share class structure will give all shareholders the same voting rights and increase the liquidity of the shares. Under the enfranchisement proposals, each non-voting share will be converted into one ordinary share and those re-designated shares will have the same rights as the existing ordinary shares, including full voting rights. The holders of ordinary shares in Schroders will receive a bonus issue of three additional ordinary shares for every 17 ordinary shares held on a date to be determined, in an effort to "compensate them for the ...