a.
To determine: The number of directors that can be elected for Beasley Corporation by the dissident stockholders with the proxies they hold now as well as the number of directors that would be elected under the majority rule with the proxies held.
Introduction:
Cumulative Voting:
It is a voting system helpful in strengthening the rights of minor shareholders. It also allows the shareholders to cast their vote to elect the board of directors of the company.
Shares Outstanding:
They are referred to as the common shares of the authorized company, which are actually held by the investors and represent ownership of the company. They are also termed as issued shares.
b.
To calculate: The number of shares or proxies required to elect 9 directors under cumulative voting in Beasley Corporation.
Introduction:
Cumulative Voting:
It is a voting system helpful in strengthening the rights of minor shareholders. It also allows the shareholders to cast their vote to elect the board of directors of the company.
Shares Outstanding:
They are referred to as the common shares of the authorized company, which are actually held by the investors and represent ownership of the company. They are also termed as issued shares.
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