Question. Please attempt the below question Jock Ma is the founder of Pharmacy Warehouse Pty...
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Question. Please attempt the below question Jock Ma is the founder of Pharmacy Warehouse Pty Ltd (Pharmacy Warehouse) - a large proprietary limited company specialising in pharmacy and cosmetics retailing. Jock Ma is an executive director and a major shareholder in Pharmacy Warehouse. The company has experienced significant growth in online sales since the 2020 COVID-19 lockdowns. During 2021, a competitor makes a takeover bid for Pharmacy Warehouse. The competitor claims that if the takeover is successful, they will remove the existing directors from the Board and undertake a major overhaul of the management structure of Pharmacy Warehouse to enhance profitability. The truth be told, Jock and the other directors have probably been mismanaging Pharmacy Warehouse. Jock Ma does not like the idea of the takeover, nor of losing his job and his company. Jock instructs the Board to issue 6 million shares to themselves and another 7 million to other shareholders who agree to vote down the takeover offer. Has Jock Ma breached his directors duties? Make sure that you use I.R.A.C. structure for
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