Question: (Your answer should be with maximum 200 words.) Elegance Company Ltd (the Company) is a company selling different well known brands of luxurious cosmetic products.

(Your answer should be with maximum 200 words.) Elegance Company Ltd ("the Company") is a company selling different well known brands of luxurious cosmetic products. The Company's articles of association have the following provisions: Provision 111: The number of shareholders of the company shall be less than 20. Provision 112: The company cannot invite general public to subscribe for the new shares or debentures in the company. Provision 113: If any shareholders of the company intend to sell or transfer their shares, they need first sell or transfer the shares to the other existing shareholders of the company and cannot sell or transfer shares freely to outsiders. Explain what type of company Elegance Company Ltd. is

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