(1) Where a meeting is summoned under section 896 -
(a) every notice summoning the meeting that is sent to a creditor or member must be accompanied by a statement complying with this section, and
(b) every notice summoning the meeting that is given by advertisement must either -
(i) include such a statement, or
(ii) state where and how creditors or members entitled to attend the meeting may obtain copies of such a statement.
(2) The statement must -
(a) explain the effect of the compromise or arrangement, and
(b) in particular, state -
(i) any material interests of the directors of the company (whether as directors or as members or as creditors of the company or otherwise), and
(ii) the effect on those interests of the compromise or arrangement, in so far as it is different from the effect on the like interests of other persons.
(3) Where the compromise or arrangement affects the rights of debenture holders of the company, the statement must give the like explanation as respects the tr
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