Esmond has developed a new app which uses sensors placed in a fridge to determine when a grocery order will need to be placed. He has formed a company called Fridge Refiller Ltd for this business. Development of the app will require a significant amount of capital to fund the IT investment. Esmond considers the best way to raise capital is by selling shares. He has decided sell shares through an initial public offering (IPO) and have the shares listed for trade on the ASX. a) What disclosure requirements apply in relation to this proposed issue of shares? 5 marks The disclosure statement states that Fridge Refiller Ltd expects to have 500,000 customers using its app by the end of the year. This is incorrect. Cottonworths only expects to have 50,000 customers by the end of the year. b) Please discuss any legal issues in relation to the disclosure document. 5 marks After listing on the ASX, Fridge Refiller Ltd is approached by a large retailer, Cottonworths. Cottonworths proposes to enter an agreement whereby it will pay a commission to Fridge Refiller Ltd for grocery orders placed with it. c) Please discuss any disclosure obligations in relation to this agreement