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Flashcards in Companies Finance Deck (15)
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1

What % is needed to apply to court to cancel class right variations?

15%

2

What makes up 'Called up share capital'

aggregate amount of calls +
paid up share capital w/o being called +
share cap paid @ specific future date

3

Original subscribers must pay for shares in cash?
True or false for PUBLIC companies

True

4

Original subscribers must pay for shares in cash?
True or false for PRIVATE companies

False

5

Subsequent shares must be 1/4 nominal value paid up plus any premium.
True or false for PUBLIC companies

True

6

Subsequent shares must be 1/4 nominal value paid up plus any premium.
True or false for PRIVATE companies

False

7

Can shares in PUBLIC company be paid for by undertaking work or services for the company?

No

8

How long do members have to accept a rights issue?

21 days

9

Is express authority required to issue shares at a premium?

No

10

Articles + redeemable shares

Articles can:
- restrict or exclude issue
- no need to contain authority to issue

11

Does a change in the value of share count as a change in rights?

No

12

How long do you have to register a lawful allotment of shares?

2 months before it becomes punishable by a fine

13

What type of shares have rights of pre-emption?

Equity securities for cash

14

What type of resolution is needed to consolidate or sub-divide shares?

ordinary

15

When must public company re-register as private?

when nominal value of allocated share cap falls below authorised minimum