a) The company could provide Andrea with a loan to enable her to purchase Millie's shares; orb) The company could buy back all of Millie's shares allowing her to leave the company and prevent control falling into Sam's hands. Advise Andrea and Millie whether the proposals set out above are compatible with the provisions of the Companies Act 2014. Your answer should refer to relevant case-law.

Framework Ltd is a private company limited by shares which runs a small art galleryr in Ireland. It has an issued share capital of 1201 ordinary E l shares of which Millie owns 601; Andrea holds 300 and Sam holds the remainder. Millie wants to end her involvement in the business to move abroad. She has offered to sell her shares to Andrea for 50,000. Andrea agrees that this is a reasonable price for the shares, but she is unable to raise the nance from her own resources. She is anxious to avoid a situation where Sam is given the option to purchase the shares as he would then have a majority and she would be unable to agree with his proposals for the direction of the business