Consider the following information concerning the ownership of each of five companies. Determine the subsidiary / parent relationships of each of the companies. Give a brief explanation of your reasoning.

Do not copy and paste from the standard and you are not required to quote paragraph numbers from the standard. The question is not asking for a general discussion of theory.

Your discussion should be a sentence or two for each company outlining the facts that are relevant.

Company	Ownership of Shareholding	Other information
Eagle Ltd	Sparrow Ltd owns 50%, ABC Pty Ltd owns 50%	Both companies active at AGM both companies have 5 directors on the Board of Directors
Sparrow Ltd	Owned by a large number of shareholders, of which Z Bank is the largest with 10%.	Z Bank has funded much of Sparrows operations and holds several mortgages over the companys assets. Z Bank has the right to appoint 2 directors to the Board of Sparrow. AGMs of Sparrow are well attended with much debate about company operations.
Hawk Pty Ltd	Owned 40% by Eagle Ltd. Lots of other shareholders none of which own more than 10%.	AGMs very quiet with only small numbers present. Eagle Ltd takes an active interest in the operations of Hawk Pty Ltd.
Dove Ltd	Owned 51% by Sparrow Ltd and 49% by ABC Pty Ltd	Sparrow Ltd is a passive investor in Dove Ltd and does not wish to be involved in its operations. ABC Pty Ltd has 3 directors on the Board of Sparrow and is very active in its decision making.
Pigeon Pty Ltd	Owned 49% by Hawk Pty Ltd, 31% by Dove Ltd, and 20% by Sparrow Ltd.	Hawk Pty Ltd has convertible options in Pigeon Pty Ltd that if exercised would increase its shareholding to 51% and decrease other shareholdings to a total of 49%. Hawk Pty Ltd has indicated it would like to exercise the options but due to financial issues is unlikely to be able to do so.

Use the table below for your answer and discussion for question 4

Company	Parent Company	Brief explanation
Eagle Ltd
Sparrow Ltd
Hawk Pty Ltd
Dove Ltd
Pigeon Pty Ltd