ASAP PLEASE

The Board of Petrified Inc was approached by Kendon and Kennot, Petrified 's 2nd and 3rd largest shareholders, both cash rich, demanding an increase in the number of shares they each had in the company. Their intention was to increase their share of Petrified stocks. Sir Kensington, the Board Chair and largest shareholder, recommended a bonus issue, but they laughed and rejected his proposal, saying he was just trying to be sly. Kensington is currently facing a major personal financial crisis and cannot afford to acquire any additional shares. Why did Kendon and Kennot reject Kensington's bonus issue proposal? a. They want to sell their holdings and make larger than usual capital gains b. They did not want a decrease in the total current market value of their holdings c. The bonus issue would increase the number of shares they held, but it would be the same for all other shareholders on a proportionate basis, including Kensington d. They want their combined share in Petrified to be equal to or greater than Kensington's share so they can challenge his position as Board Chair