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Question - Unhappy with the performance of the board, a minority group of shareholders of Ontario Grilled Chicken (OGC) Limited, who owns 4,500,000 voting shares, wants to elect the minimum majority of directors in the upcoming shareholders meeting where 8 directors are to be elected. OGC has 10,000,000 voting shares outstanding and uses cumulative voting. How many additional shares must the minority group have to ensure the election of the minimum majority of directors?
Financial Statement Analysis and Preparation
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