Advise James what requirements of Chapter apply to the offer

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Question - ABC Ltd operates a chain of hotels. The board of directors of ABC Ltd decide the company requires additional capital to fund its plans for an expansion of its hospitality business. A minority of the directors proposed that additional capital could be raised through a private placement of shares issued to themselves, the directors. The majority of the board voted against this proposal. Instead the board of ABC Ltd decided to offer the shares to members of the public. The offer is not a rights issue. James is a director of ABC Ltd. He wants to know what disclosure and other requirements apply to the offer. Advise James what requirements of Chapter 6D of the Corporations Act 2001 apply to the offer and why.

Reference no: EM132771813

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