Question
Jen Brunning is the founder of Brunnings Warehouse Ltd- an ASX-listed public company specialising in the wholesale grocery merchandising business. Jen Brunning is also a
Jen Brunning is the founder of Brunnings Warehouse Ltd- an ASX-listed public company specialising in the wholesale grocery merchandising business. Jen Brunning is also a director and shareholder in Brunnings Warehouse. The company has experienced significant growth since its listing on the ASX in 2010. During 2020, a competitor makes a takeover bid for Brunnings Warehouse Ltd. The competitor claims that if the takeover is successful, they will replace the existing Board and undertake a major overhaul of the management structure of Brunnings Warehouse to improve profitability. The truth be told, Jen and the other directors have been mismanaging Brunnings. Jen Brunning does not like the idea of the takeover, nor of losing her job and her company. Jen convinces the Board to issue 5 million shares to themselves and another 5 million to other shareholders who agree to vote down the takeover offer. Has Jen Brunning breached her directors duties? Make sure that you use I.R.A.C. structure for your answer.
Can someone please help me out with this question?? i have 45 mins to answer this question
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