What do you understand by the pre-emptive rights of shareholders in respect of further issue of shares?

Where the directors decided to increase the subscribed capital of the company by issue of further shares within the limit of the authorized capital, such further shares shall be offered to the members in
proportion, to the capital paid up on the existing share held by such member, irrespective of class, at the date of the offer. This is the per-emptive rights of shareholders to get such offer.