Revised Laws of Saint Lucia (2021)

48.   Changing share class

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    (1)   Shares issued by a company and converted or changed under section 213, 236 or 241 into shares of another class or series become issued shares of the class or series of shares into which the shares have been converted or changed.

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    (2)   Where its articles limit the number of authorised shares of a class or series of shares of a company and issued shares of that class or series have become, under subsection (1), issued shares of another class or series, the number of unissued shares of the first-mentioned class or series shall, unless the articles of amendment or reorganisation otherwise provide, be increased by the number of shares that, under subsection (1), became shares of another class or series.