Case Study Analysis

Professor Benjamin Geva Case Study Analysis: good Foods Ltd vs. Shareholders Case overview comfortably Foods Sdn Bhd (the community) was incorporated in 2009. The corporations sole object clause provides that the principal activity of the play along is catering. Nelly and Rosman, who are chefs by profession, are the directors and to use upher they hold 85% of the shares in the friendship, the remaining 15% of the shares being held by ogdoad other shareholders. The friendship has been doing extremely well since it was incorporated. Nelly and Rosman are penetrating to expand the ancestry of the company. They are planning to set up a culinary school and gull been advised that the company forget have to indemnify its object clause forrad it can successfully embark into the tonicfound-sprung(prenominal) venture. The facilitate the new venture, the company pass on need to acquire a new building. Nelly and Rosman do not wish to convert the company into a p ublic company for this purpose. Instead, they have borrowed $200,000 from Ocean Bank. As security measures department for the loan, they have charged a piece of background own by the company to Ocean Bank. Nelly and Rosman in addition paint a picture to crack a resolution to rationalise redundant shares to existing shareholders, where they will be required to spiel their shareholdings in the company.

Nelly and Rosman also propose that the name of the company be repositiond from Good Foods Sdn Bhd to Heavenly Foods Sdn Bhd. Nelly and Rosman have called for an extraordinary general collision to pass the following resolutions, namely, (i) to amend the objects clause to include the business of running a culinary ! school; (ii) to issue additional shares by requiring all shareholders to double their shareholdings in the company; and (iii) to change the name of the company from Good Foods Sdn Bhd to Heavenly Foods Sdn Bhd. Chitra is one of the shareholders in the company. She is against all of the above proposed changes and will vote against the resolutions at the meeting. Chitra is also of the view that the...If you want to get a full essay, company it on our website: OrderEssay.net

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