A firm has four empty seats to fill on its board. The total number of shares...

Question

Question

A firm has four empty seats to fill on its board. The total number of shares outstanding is 473,000 shares and Annan owns 90,000 shares. Can Annan guarantee that he will get on the board, if cumulative voting method is used?

business finance

Answer 1

Answer #1

Number of seats to be filled = 4

Total number of shares outstanding = 473,000 shares

Annan owns only, 90,000 it is not sufficient in case of cumulative voting method is used

No, because Annan does not have enough shares to guarantee membership on the board.

Answer 2

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