1. Europe Holdings holds 40 per cent of the voting rights of Chocolate Plc. 10% of voting rights are held by X, which is not related to Europe Holdings. 50% of votes are held by thousands of shareholders, none individually holding more than 1 per cent of the voting rights. None of the shareholders has any arrangements to consult any of the others or make collective decisions. All decisions about the relevant activities of Chocolate Plc. are made by simple majority of votes. At the shareholder meetings X always used to vote like Europe Holdings. Europe Holding Widely dispersed 40% 50% Chocolate Plc (a) Does Europe Holdings control Chocolate Plc.? Give your reasons according to IFRS10 (3 parts of control). (b) What would be your answer if Europe Holdings holds currently exercisable option to buy 10% of voting rights from X? (c) What would be your answer if from previous shareholders meetings you know that no more than 75% of shareholders turn up at the meeting