9 CAP. 206 Newspaper and Printing Presses 2002 Ed. (b) the newspaper company shall, as soon as practicable, arrange for the person to be issued with one ordinary share in exchange for each management share held by him. (8) The directors of a newspaper company shall, on the requisition of the holders of not less than one-quarter of its issued management shares, immediately proceed to convene an extraordinary general meeting of the company to be held as soon as practicable but in any case not later than 2 months after the receipt by the company of the requisition. (9) Section 176 of the Companies Act (Cap. 50) (other than subsections (1) and (1A) thereof) shall have effect in relation to the requisition under subsection (8). [Act 35 of 2014 wef 01/07/2015] (10) The holders of both the management and the ordinary shares of a newspaper company shall rank pari passu in respect of all dividends declared by the company and in respect of all bonus and rights issues made by the company as well as in the right to return of capital and to participation in all surplus assets of the company in liquidation. (11) The holder of management shares shall be entitled either on a poll or by a show of hands to 200 votes for each management share held by him upon any resolution relating to the appointment or dismissal of a director or any member of the staff of a newspaper company but shall in all other respects have the same voting rights as the holder of ordinary shares. (12) Voting on the appointment or dismissal of a director shall be by means of a poll and not by a show of hands. (13) The holder of management shares shall not deal in or in any way mortgage the shares except with the approval of the Minister. (14) Management shares shall not — (a) be offered, before issue, to ordinary shareholders; or (b) be quoted or dealt in on a stock exchange in Singapore or elsewhere. [21/2005 wef 30/01/2006] (15) The Minister may in writing grant his approval for the purchase or acquisition or the holding of management shares by any person Informal Consolidation – version in force from 1/7/2015