Shareholders policy
Date approved: November 2023
Review date: November 2026
1. Purpose of the policy
1.1. The RHT Shareholder Policy ensures the process for admission and removal of shareholders, as outlined in the Rules of RHT, are clearly understood by all key stakeholders of the organisation.
2. Scope of the policy
2.1. The RHT Shareholder Policy reflects the Rules of RHT and provides clarity to all stakeholders on the criteria for being shareholders in RHT.
3. Detailed policy content
3.1. This document sets out the Board’s policy for admitting new shareholders. The Board shall only admit new shareholders in accordance with this policy.
3.2. RHT Rules C1-C7 set out the role, nature and obligations of shareholdings for RHT:
- Obligations of shareholders (C1)
- Nature of shares (C2-4)
- Nature of shareholders (including admission and ending of shareholders) (C5-7)
3.3. In accordance with the Rule D7 and this policy, all non-executive Board directors will automatically become shareholders following their appointment to the Board. This does not apply to co-optees or employees.
3.4. 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 the Rules and has absolute discretion to accept or reject an application.
3.5. The Policy is to only consider applications for shareholding membership from people who are currently non-executive Board directors. When a non-executive Board director ceases to be a Board member, they shall cease to be a shareholder.
3.6. The register of shareholders includes a small number of shareholders who were members of RHT before the Rules were changed, and who do not meet the criteria for shareholders under the current Rules. Their position remains unchanged.
4. Applicability
4.1. The RHT Shareholder Policy applies to all shareholders and potential shareholders.
5. Definitions
5.1. A shareholder is a person or body whose name and address are entered in the register of shareholders.
7. Implementation procedures
7.1. The RHT Shareholder Policy will be available on Sharepoint to Raven employees and available on request to non-employees.