Companies Finance Flashcards
What % is needed to apply to court to cancel class right variations?
15%
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
Original subscribers must pay for shares in cash?
True or false for PUBLIC companies
True
Original subscribers must pay for shares in cash?
True or false for PRIVATE companies
False
Subsequent shares must be 1/4 nominal value paid up plus any premium.
True or false for PUBLIC companies
True
Subsequent shares must be 1/4 nominal value paid up plus any premium.
True or false for PRIVATE companies
False
Can shares in PUBLIC company be paid for by undertaking work or services for the company?
No
How long do members have to accept a rights issue?
21 days
Is express authority required to issue shares at a premium?
No
Articles + redeemable shares
Articles can:
- restrict or exclude issue
- no need to contain authority to issue
Does a change in the value of share count as a change in rights?
No
How long do you have to register a lawful allotment of shares?
2 months before it becomes punishable by a fine
What type of shares have rights of pre-emption?
Equity securities for cash
What type of resolution is needed to consolidate or sub-divide shares?
ordinary
When must public company re-register as private?
when nominal value of allocated share cap falls below authorised minimum
