Question
In: Finance
The shareholders of the Mango Company need to elect seven new directors. There are 920,000 shares...
The shareholders of the Mango Company need to elect seven new directors. There are 920,000 shares outstanding currently trading at $52 per share. You would like to serve on the board of directors; unfortunately no one else will be voting for you.
Solutions
Expert Solution
In this condition, as there will be 7 directors elected so each share has 7 voting power. So if there are 920,000 shares so equivalent votes will be = 920000*7 = 6440000
If no one else is going to vote then having half of the total equivalent votes or majority will secure a position for a director which is 6440000/2 = 3220000
So the number of shares to be present wih me to secure a position in the board as director = 3220000/7 = 460,000
jeff jeffy answered 2 years agoRelated Solutions
The shareholders of the Mango Company need to elect seven new directors. There are 920,000 shares...
The shareholders of the Mango Company need to elect seven new
directors. There are 920,000 shares outstanding currently trading
at $52 per share. You would like to serve on the board of
directors; unfortunately no one else will be voting for you. a. How
much will it cost you to be certain that you can be elected if the
company uses straight voting? (Do not round intermediate
calculations and enter your answer in dollars, not millions,
rounded to the nearest...
The shareholders of the Stackhouse Company need to elect seven new directors. There are 810,000 shares...
The shareholders of the Stackhouse Company need to elect seven
new directors. There are 810,000 shares outstanding currently
trading at $41 per share. You would like to serve on the board of
directors; unfortunately no one else will be voting for you.
How much will it cost you to be certain that you can be elected
if the company uses straight voting? (Do not round
intermediate calculations. Enter your answer in dollars, not
millions of dollars, e.g., 1,234,567. Do...
The shareholders of the Stackhouse Company need to elect nine new directors. There are 940,000 shares...
The shareholders of the Stackhouse Company need to elect nine
new directors. There are 940,000 shares outstanding currently
trading at $54 per share. You would like to serve on the board of
directors; unfortunately no one else will be voting for you.
How much will it cost you to be certain that you can be elected
if the company uses straight voting? (Do not round
intermediate calculations. Enter your answer in dollars, not
millions of dollars, e.g., 1,234,567. Do...
The shareholders of Bryant Power Corp. need to elect four new directors to the board. There...
The shareholders of Bryant Power Corp. need to elect four new
directors to the board. There are 13,700,000 shares of common stock
outstanding, and the current share price is $10.50. If the company
uses cumulative voting procedures, how much will it cost to
guarantee yourself one seat on the board of directors? (Do
not round intermediate calculations and round your answer to the
nearest whole dollar, e.g., 32.)
Raptor Corporation declares a dividend permitting its common shareholders to elect to receive 9 shares of...
Raptor Corporation declares a dividend permitting its common
shareholders to elect to receive 9 shares of cumulative preferred
stock or 3 additional shares of Raptor common stock for every 10
shares of common stock held. Raptor has only common stock
outstanding (fair market value of $45 per share). One shareholder
elects to receive preferred stock, while the remaining shareholders
choose the common stock.
Raptor wants to know whether the shareholders recognize any
gross income on the receipt of the stock....
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of...
The shareholders' equity of Crystal Company includes the items
shown below. The board of directors of Crystal declared cash
dividends of $6.5 million, $10 million, and $45 million in each of
its first 3 years of operation: 2009, 2010, and 2011,
respectively.
Common stock, $1 par, 50,000,000 shares outstanding
Preferred stock, 7%, $100 par, 1,000,000 shares outstanding
(cumulative)
Preferred stock, 6%, $100 par, 100,000 shares outstanding
(non-cumulative)
Determine the amount of dividends distributed on preferred and
common stock for each...
Lily and Morris are the directors and shareholders of Zap Graphics Pty Ltd. Recently, the company...
Lily and Morris are the directors and shareholders of Zap
Graphics Pty Ltd. Recently, the company began to suffer cash flow
problems and needed additional capital. Lily persuaded Rodney to
invest $100,000 in Zap Graphics Pty Ltd. Lily and Morris held a
directors’ meeting and decided to issue Rodney with two shares in
the company. A general meeting of shareholders also appointed
Rodney as a director of the company.
The company’s financial position improved as a result of
Rodney’s $100,000...
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of...
The shareholders' equity of Crystal Company includes the items
shown below. The board of directors of Crystal declared cash
dividends of $2.2 million, $6.0 million, and $46.8 million in each
of its first three years of operation: 2016, 2017, and 2018,
respectively. Common stock, $1 par, 50,000,000 shares outstanding
Preferred stock, 6%, $100 par, 1,000,000 shares outstanding
Required: Determine the amount of dividends per share on preferred
and common stock for each of the three years. The preferred stock
is...
Question Hong Kong Law (Company Law) Lawrence, Michael and Nigel are shareholders and directors of Prosperity...
Question Hong Kong Law
(Company Law)
Lawrence, Michael and Nigel are shareholders and directors of
Prosperity Ltd which is a retailer of hi-tech products. Each of
them holds sixty-five, twenty, and fifteen per cent of the
company’s shares respectively. Being often away on an overseas
holiday, Lawrence rarely attends the board of directors’ meetings.
During the year 2019, Lawrence sold the company’s product to his
friend at a price which is substantially lower than the market
price and he secretly...
Q1: Discuss three key components of corporate governance in a company: common shareholders, board of directors,...
Q1: Discuss three key components of corporate governance in a
company: common shareholders, board of directors, and
management.
Q2: What is agency
problem? any real-world examples?
Q12: Discuss the
relationship between unemployment rate and stock market
performance.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Draw a DFA for the following ( ∑ = {0,1}): Set of all strings with.
- In the article from Forbes notes that the goal of a leader is not to clone...
- Many people keep time using a 24 hour clock (11 is 11am and 23 is 11pm,...
- UNIX ONLY -- DIFFICULT LAB ASSIGNMENT This is an extremely difficult subject for me. Could you...
- Do you know why your credit card can be refused even though you are profitable?
- The Following Java expression: S/10 * 10 + 10 – S = C Show that this...
- Year Cash Flow 0 −$9,700 1 5,800 2 2,500 3 3,400 &nb
ADVERTISEMENT