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QUESTION Two (b) ABC Ltd is a company specialising in manufacturing organic food. Mary is a shareholder and owns 10% of shares of ABC Ltd

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QUESTION Two (b) ABC Ltd is a company specialising in manufacturing organic food. Mary is a shareholder and owns 10% of shares of ABC Ltd and she is also a sales executive of the company. The company has shares class A and class B. Mary is a holder of the class A shares. ABC Ltd has the following provision in its Constitution: \"T he rights attaching to any class of shares so issued may only be varied with the consent in writing of the holders of the issued shares of that class, or with the sanction of the special resolution passed at a separate meeting of the holders of the shares of that class\". In February 2017, the directors of ABC Ltd called a general meeting to vary the rights attached to the shares of class A. Mary was not called to the meeting and those rights had been varied without Mary's approval and in breach of the procedure set out in the constitution. Mary is very unhappy with this change in the Constitution and the fact that she was not called to the meeting and she feels that as her rights as a shareholder have been negatively affected by the company. REQUIRED: Advise Mary in relation to her legal rights (if any) against ABC Ltd by citing relevant Australian law. (5 marks). Do not discuss breach of directors duties

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