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SDVP was incorporated specifically for the problem of Zero Dividend Preference shares. A additional subsidiary, Chelverton Small Companies ZDP PLC, was incorporated on thirteen July 2012, to problem Zero Dividend Preference shares. A whole of 8,500,000 Zero Dividend Preference shares were issued on 24 August 2012, and an additional 849,000 on 24 March 2017.
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These requirements and the requirements of the Modern Slavery Act 2015 don’t apply to the Company as it has no staff and no physical assets, all of the Directors are non-executive and it has outsourced all its administration and administrative capabilities to third-party service providers. The Company has due to this fact not reported additional in respect of those provisions. However, in finishing up its actions and in relationships with service suppliers, the Company aims to conduct itself responsibly, ethically and fairly. The principal activity of the Company is to hold on business as an funding belief. The Company has been granted approval from HMRC as an investment trust under Sections 1158/1159 of the Corporation Tax Act 2010 (‘1158/1159’) on an ongoing foundation.
- Mr. Ryder mentioned the magazine group’s parent firm, American Express Travel Related