Corporate law Topic :shares https://www.slideshare.net/syafawanimahadi/capital-shares-companies-act-2016 Rayyan Global Sdn Bhd's share capital comprises of RM40, 000 ordinary shares
Fantastic news! We've Found the answer you've been seeking!
Question:
Corporate law
Topic :shares
https://www.slideshare.net/syafawanimahadi/capital-shares-companies-act-2016
Transcribed Image Text:
Rayyan Global Sdn Bhd's share capital comprises of RM40, 000 ordinary shares issued at RM5.00 each, 5000 preference shares issued at RM3.00 each. The preference shareholders rights as stated within the constitution are: entitlement to 10 percent dividends each year in priority to other classes of shares; the rights to share in surplus assets upon completing equally with ordinary shareholders. Via the subsequent transaction, the corporate plans to lift additional capital: i. To issue 10,000 of new preferred shares with the identical rights as existing preference shares. ii. To cancel the preference shareholders right to share in surplus assets upon effecting equally with ordinary shareholders. iii. To introduce a provision within the constitution: "Any variation of sophistication rights must be voted on at a separate class meeting of preference shareholders and the variation must be approved by a standard resolution of members of that class". iv. To issue new "Class B" common share with two votes each on each of the voting share by poll. The corporate is of the view that proposals (iii) and (iv) are affected without the approval of the preference shareholders. Din and Man who hold 15% of the preference shares disagree with the company's view. Briefly explain the company on the legal criteria requirements that the company must comply with to carry out the above proposals. Rayyan Global Sdn Bhd's share capital comprises of RM40, 000 ordinary shares issued at RM5.00 each, 5000 preference shares issued at RM3.00 each. The preference shareholders rights as stated within the constitution are: entitlement to 10 percent dividends each year in priority to other classes of shares; the rights to share in surplus assets upon completing equally with ordinary shareholders. Via the subsequent transaction, the corporate plans to lift additional capital: i. To issue 10,000 of new preferred shares with the identical rights as existing preference shares. ii. To cancel the preference shareholders right to share in surplus assets upon effecting equally with ordinary shareholders. iii. To introduce a provision within the constitution: "Any variation of sophistication rights must be voted on at a separate class meeting of preference shareholders and the variation must be approved by a standard resolution of members of that class". iv. To issue new "Class B" common share with two votes each on each of the voting share by poll. The corporate is of the view that proposals (iii) and (iv) are affected without the approval of the preference shareholders. Din and Man who hold 15% of the preference shares disagree with the company's view. Briefly explain the company on the legal criteria requirements that the company must comply with to carry out the above proposals.
Expert Answer:
Related Book For
Financial Accounting
ISBN: 9780730363217
10th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield
Posted Date:
Students also viewed these law questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Find all values of 0, if 0 is in the interval [0, 360) and has the given function value. cot 0= -1 0= (Type your answer in degrees. Use a comma to separate answers as needed.)
-
Regarding the tax implications of various retirement plans, comment on the following: a. The difference between Keogh (H.R. 10) and traditional deductible IRA plans. b. The difference between...
-
American Energy Review reported that 27% of American households burn wood. If a random sample of 500 American households is selected, find the mean, variance, and standard deviation of the number of...
-
By using six factor formula for \(k\), derive the Eqs. (7.93), (7.94) of Section 7.7.1. dkoo dp= k MB dM dB 8 + (7.93) 1+M B M B2
-
Better Fitness, Inc. (BFI) manufactures exercise equipment at its plant in Freeport, Long Island. It recently designed two universal weight machines for the home exercise market. Both machines use...
-
(a) Use the method of direct Integration to find the solution of x2. (b) (i) dy -4x=6. (5%) dx Verify that y = ex, y = e3x and y = Aex + Be -3x (A and B are constants) are - 6y= 0. (10 %) solutions...
-
The bookkeeper has prepared a preliminary trial balance of Suzzy and Daryl for the year ended 31 December as follows. GH Capital account Profit and loss account at 1 January Bank loan Debtors and...
-
What kind of relationship would you recommend in the following case? Observation of retail shoppers by a researcher who is interested in determining customer purchase time by type of goods purchased.
-
A triangular prism has base edges 4cm,5cm, and 8cm long. Its lateral area is 408cm^(2). What is the height of the prism?
-
Choice #2 The term "reasonable" is used quite frequently in the Canadian legal System. Discuss how this term is used throughout Canadian Law in the following areas: A) The Canadian Charter of Rights...
-
Ivan made a scaled copy of the following triangle. He used a scale factor less than 1. What could be the length of the base of the scaled copy of the triangle? Choose 3 answers:
-
3. use indentation. Save the java file as Decimal MathUsing Integers.java in your lab4 folder. Compile the program and run it. Make sure that your program outputs what you see in Figure 2. If you...
-
A regular nentagon is shown with lengths in centimeters (cm). What is the area of the pentagon? A ,75.375cm^(2) B,150.75cm^(2) C 180.25cm^(2) D 301.5cm^(2)
-
A diaphragm type of pressure transducer gives a central deflection of 0.2 mm when a pressure of 1.2 x 106 N/m 2 is applied. An electromechanical device, namely, linear variable differential...
-
Determine which of the following limits exist. Compute the limits that exist. lim x-0 1- + 3x X
-
Karen Broderick commenced business on 1 July 2018. On 30 June 2019, she found that she had written off debts amounting to $1875. In addition, she found it necessary to create an allowance for...
-
The following information relates to a debentures issue of Justice Ltd dated 1 January 2019. The companys financial yearend is 30 June. Required (a) Prepare general journal entries to record: i. the...
-
As the accountant for Sam & Bens Ice Cream you are required to perform a bank reconciliation at the end of June 2019. The bank reconciliation statement for the previous month is set out below:...
-
Based on Exhibit 2 and Parks due diligence, the pension committee should consider investing in: A. Fund A. B. Fund B. C. Fund C. Kevin Kroll is the chair of the investment committee responsible for...
-
Which asset class would best satisfy the Funds diversification strategy? A. Private equity B. Private real estate C. Absolute return hedge fund Eileen Gension is a portfolio manager for Zen-Alt...
-
Which of Smittands statements regarding short-biased equity strategies is incorrect? A. Statement 1 B. Statement 2 C. Statement 3 Eileen Gension is a portfolio manager for Zen-Alt Investment...
Study smarter with the SolutionInn App