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Determine the total seats allowed to the the mabuhi group

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Reference no: EM133155680

Question - Pinas Corp. has an authorized capital stock of P20 million with P50 par value, of which 75% were issued and outstanding. Mabuhi and his group owned 70% of the outstanding capital stock and the rest in the hands of the minority group, the Paktay. During the stockholders meeting, eleven (11) seats of board of directors will be elected.

Required -

1. Determine the total seats allowed to the the Mabuhi group.

2. Determine the number of shares needed by the Paktay group to have three seats in the board.

3. Determine the additional number of shares needed by Mabuhi group to have all the seats in the board.

4. Determine the number of seats allowed to Paktay group.

5. Additional number of shares required for the Paktay group to have four representative in the board.

Reference no: EM133155680

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