ABC Corp. has authorized capital stock of 5M with par value of P1,000 per share. The Corporation’s preferred share amounts to P1.5M, with P0.5 M treasury shares. Preferred shares are deprived of voting rights. All of the authorized capital stock is issued. The number of directors per articles of incorporation is 9.

a). How many shares are needed to elect 3 directors?

b). If X wants to have control of the board how many shares will be required?

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