PL Ltd holds 35% of the voting shares of UM Ltd. Two other unrelated shareholders in UM Ltd have an interest of 20% each. The remaining 25% of the voting shares in UM Ltd are held by a wide range of investors. PL Ltd recently used its voting power to appoint two new directors to the board of UM Ltd. Which entity has control of UM?

a. the wide range of investors with 25% have control

b. PL Ltds 35% interest gives it control

c. the two unrelated shareholders with 20% each have control

d. No entity has control