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Investors generally have the right to buy and sell preferred shares in the public or private stock markets. The company may also repurchase shares at the current market price if the investor agrees to the sale. The company may repurchase the shares without the investors consent if the stock is callable.
It depends on how the company decides to structure its stock. Class B shares are lower in payment priority than Class A shares. That means if a company were to go bankrupt and be forced into liquidation, Class A shareholders would be paid out first, then Class B.
The process of converting issued shares from one class or group into another is called re-designation, re-classification, re-naming or converting of shares. It is referred to as share re-designation in the Companies Act 2006, however the process is more usually referred to as share re-classification.
Class A, common stock: Each share confers one vote and ordinary access to dividends and assets. Class B, preferred stock: Each share confers one vote, but shareholders receive $2 in dividends for every $1 distributed to Class A shareholders. This class of stock has priority distribution for dividends and assets.
The procedure for changing shares from one class to another must be clearly laid out in the Articles of Association. If it is not, the board has to pass a special resolution, which 75% must vote in favour of.

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Class A, common stock: Each share confers one vote and ordinary access to dividends and assets. Class B, preferred stock: Each share confers one vote, but shareholders receive $2 in dividends for every $1 distributed to Class A shareholders. This class of stock has priority distribution for dividends and assets.
In finance, a class A share refers to a share classification of common or preferred stock that typically has enhanced benefits with respect to dividends, asset sales, or voting rights compared to Class B or Class C shares.
The Class B shares have about 10 times the voting power of Class A shares, and are not traded on public exchanges.
A B-share is a share class that charges a sales load in a mutual fund. This means investors pay a charge when they redeem from the fund.
Simply add the date of change and which share class is being changed. If there is only one share class it will default to this.

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