Morning Star Ltd was registered on 1 July 2018, as a company
Another version of this question is available here. Question 1 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 Ordinary 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 oversubscribed the directors will make a pro-rata issue of shares and the excess application money will…
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