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In early September, Kelly decided that she plans to hold another extra-ordinary general meeting to become the only shareholder of Shoemart. She plans to amend
In early September, Kelly decided that she plans to hold another extra-ordinary general meeting to become the only shareholder of Shoemart. She plans to amend Shoemarts Constitution to enable any owner of more than 75% of the shares in the company to compulsorily acquire the shares of other members for $2.50 per share. The shares are worth $4.00 each based on a recent valuation. Discuss whether she will succeed. (2.5 marks)
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