To cause any share to be composed of property different in kind from any other share and to make pro rata and non pro rata distributions

can you please explain to me what pro-rata means regarding my holiday entitlement

A pro rata salary means you are earning a percentage of that yearly salary. For example if your pro rata salary was $16k and you worked 50% of full time hours you would earn $8k.

Pro - rata allotment of shares is opted by the Company when there is an over-subscription. The excess application money is adjusted towards the sum due on allotment.

We calculate the amount of Pro - rata in the following way:

Suppose X Ltd invited applications for 1,00,000 shares and received applications for 1,50,000 shares. In this case the pro - rata is calculated as 1,50,000/1,00,000 = 3:2. Hence the Pro - rata is 3:2.

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