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Class 1 entitles the investor to three votes. Class 2 shares, on the other hand, entitles the investor to five votes. Here, the holder of Class 2 shares gets higher voting rights than Class 1 shares. So, Class 1 shares can be called Class B shares as they entitle the investor to lower voting rights.
Therefore, the expense ratio for a mutual fund investment in Class C shares can be high, as well. Over time, the annual fee will cut into investors' returns. Thus, the need for a short-term investment period. Unfortunately, investors cannot convert Class C shares to Class A shares, which have lower expense ratios.
Class B shares are a classification of common stock that may be accompanied by more or fewer voting rights than Class A shares. Class B shares may also have lower repayment priority in the event of a bankruptcy.
Commonly, Class B shares have a lesser priority on dividend than Class A shares. But, different share classes do not usually affect the share of profits or benefits from the overall success of the enterprise by an average investor.
A Shares typically come with full voting and pre-emption rights, whereas B shares do not. Usually, investors will pay over a certain amount to receive the full rights that come with A shares, an average of £1,000 - £4,000, but this is a decision for each company to make for themselves.
Each Class B ordinary share is convertible into one Class A ordinary share at any time by the holder thereof. Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances.
The difference between Class A shares and Class B shares of a company's stock usually comes down to the number of voting rights assigned to the shareholder. Class A shareholders generally have more clout. Despite Class A shareholders almost always having more voting rights, this isn't actually a legal requirement.