Callable preference shares give its holders the option of exchanging their preference shares into ordinary shares at a specified rate.

Name: Callable preference shares give its holders the option of exchanging their preference shares into ordinary shares at a specified rate.
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Question

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Callable preference shares give the issuing company the right, but not the obligation, to buy back the shares at a predetermined price and time, not the option for holders to convert into ordinary shares.

Callable Preference Shares Give Its Holders the Option of Exchanging