A company's issued share capital consists entirely of ordinary shares, held as follows:

None of the shareholders are associated in any way.

(a) Is the company a close company?

(b) Would the company be a close company:

(i) if Penny were a manager, or (ii) if Penny were Richard's daughter, or (iii) if Penny were both a manager and Richard's daughter?

Transcribed Image Text:

Keith Leonora Martin Norma Oliver Penny Richard Others (all non-directors owning under 1%) Total % holding 7 7 7 7 7 16 4 45 100 Director Yes Yes Yes Yes Yes No No