Posted by: Pdfprep
Post Date: May 9, 2021
Wye Ltd has an issued share capital of 500,000 ordinary 20p shares. The company wishes to consolidate its shares into 100,000 ordinary £1 shares.
Which of the following is CORRECT?
(i) Wye Ltd must have the power to consolidate its share capital in its articles of association
(ii) Consolidation is lawful for a private company but not for a public company
(iii) The consolidation must be authorized by the shareholders of Wye Ltd passing an ordinary resolution
A . (i) and (ii) only
B . (i) and (iii) only
C . (ii) and (iii) only
D . (i), (ii) and (iii)
Answer: B
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