Brogan Inc. issues equity shares on January 2, 2018, that must be redeemed (not at the option of the holder) six months after a change in control. On December 31, 2019, there is a change in control, requiring the shares to be redeemed on June 30, 2020. Which of the following best describes how this would be accounted for under IFRS?

Select one:

a. Upon issue, as equity and as debt when change in control occurs.

b. Upon issue, as debt. No need to reclassify when change in control occurs.

c. Upon issue, as equity and subsequently as equity.

d. Upon issue, as debt and as equity when change in control occurs.