CIMA BA4 Question Answer
The board of Wye Ltd has resolved to issue £100,000 of redeemable preference shares. Which of the following is correct?
(i) The company must have issued at least one non-redeemable share.
(ii) The company must redeem them at not less than their nominal value.
(iii) A holder of a redeemable share must also hold at least one ordinary share in the company.
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