Midland Petroleum is holding a stockholders’ meeting next month. Ms. Ramsey is the president of the company...

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Finance

Midland Petroleum isholding a stockholders’ meeting next month. Ms. Ramsey is thepresident of the company and has the support of the existing boardof directors. All 12 members of the board are up for reelection.Mr. Clark is a dissident stockholder. He controls proxies for50,001 shares. Ms. Ramsey and her friends on the board control60,001 shares. Other stockholders, whose loyalties are unknown,will be voting the remaining 25,998 shares. The company usescumulative voting.

a. How many directors can Mr. Clark be sure ofelecting? (Do not round intermediate calculations. Rounddown your answer to the nearest whole number.)


b.How many directors can Ms. Ramsey and her friends be sure ofelecting? (Do not round intermediate calculations. Rounddown your answer to the nearest whole number.)


c-1.How many directors could Mr. Clark elect if he obtains all theproxies for the uncommitted votes? (Do not roundintermediate calculations. Round down your answer to the nearestwhole number.)


c-2.Will he control the board?

Yes
No


d. Ifnine directors were to be elected, and Ms. Ramsey and her friendshad 68,001 shares and Mr. Clark had 50,001 shares plus half theuncommitted votes, how many directors could Mr. Clark elect?(Do not round intermediate calculations. Round down youranswer to the nearest whole number.)

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Midland Petroleum isholding a stockholders’ meeting next month. Ms. Ramsey is thepresident of the company and has the support of the existing boardof directors. All 12 members of the board are up for reelection.Mr. Clark is a dissident stockholder. He controls proxies for50,001 shares. Ms. Ramsey and her friends on the board control60,001 shares. Other stockholders, whose loyalties are unknown,will be voting the remaining 25,998 shares. The company usescumulative voting.a. How many directors can Mr. Clark be sure ofelecting? (Do not round intermediate calculations. Rounddown your answer to the nearest whole number.) b.How many directors can Ms. Ramsey and her friends be sure ofelecting? (Do not round intermediate calculations. Rounddown your answer to the nearest whole number.) c-1.How many directors could Mr. Clark elect if he obtains all theproxies for the uncommitted votes? (Do not roundintermediate calculations. Round down your answer to the nearestwhole number.) c-2.Will he control the board? YesNo d. Ifnine directors were to be elected, and Ms. Ramsey and her friendshad 68,001 shares and Mr. Clark had 50,001 shares plus half theuncommitted votes, how many directors could Mr. Clark elect?(Do not round intermediate calculations. Round down youranswer to the nearest whole number.)