Morning Star Ltd was registered on 1 July 2018, as a company with a constitution limiting the shares that could be offered to .7" 000 000 Drdinary shares {including all classes] and 2 000 000 preference shares. The company issued a prospectus dated 1 July 2018 inviting the public to apply for 4 000 000 Ordinary A class shares at $3.00 per share. The terms of the shares on issue are $1.50 on application, $1.00 on allotment and $0.50 to be called within six months of allotment before 31 December 2018. If the issue is oversnbscribed the directors will make a pro- rata issue of shares and the excess application money will be applied to allotment and calls before any refunds will be given. Do 15 July, the directors also decided to issue 1 000 000 non- voting Drdinary B shares as fully paid to the promoters for a payment of $2.00 per share. On 30 July applications closed. Applications for 5 000 000 shares in total had been received with applicants for 3 500 000 shares paying the full price and 1 500 000 shares paying only the application fee. Urn 1 August, the shares were allotted with all allotment money owed paid by the 30 August. The company paid share issue costs of $100,000 for the issuing of lOrdinary A shares on 1 September. The share issue costs related to legal expenses associated with the share issue and fees associated with the drafting and advertising of the prospectus and share