Aussie Elder Care Ltd operates nursing homes. Its directors are Jan, Tony and Ben who...
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Accounting
Aussie Elder Care Ltd operates nursing homes. Its directors are Jan, Tony and Ben who hold 30% of the shares in the company. The directors allocate 1 million new shares to certain business associates. This has upset certain shareholders who claim that the share placement was made with a view to preventing a future takeover offer being made. The directors claim that the allotment was made to raise cash required for the companys future needs. Advise the shareholders:
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