Companies Finance

Question 1

Within what time period must a private company give notice of its refusal to register a requested transfer of its shares?

Answer 1

2 months

Question 2

Lakeside Ltd proposes to offer shares to existing members in accordance with their statutory rights of pre-emption under the Companies Act 2006.

What is the time period during which the offer of shares may be accepted?

Answer 2

21 Days

Question 3

Jose purchased 1,000 shares in A Plc. The shares had a nominal value of £2. These shares are 40% paid up, and the company has called up another 10%.

What is Jose’s maximum liability if the company was to go into liquidation today?

Answer 3

A shareholder’s liability is limited to the unpaid amount on their share capital, i.e. £1.20 per share.

Available Answers
£1,200 (1 Mark)

Question 4

What percentage of votes is required to vary class rights?
1)Ordinary resolution supported by court confirmation.
2 )Ordinary resolution supported by a solvency statement.
3) Special resolution supported by court confirmation.
4) Special resolution supported by a solvency statement.

Answer 4

Special resolution supported by a solvency statement. (1 Mark)