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Partly paid shares

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Partly paid shares

  • This topic has 1 reply, 2 voices, and was last updated 5 months ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • January 13, 2022 at 9:58 am #645829
    saroj
    • Topics: 11
    • Replies: 2
    • ☆

    Hi Mike,
    Can you please let me know, what percentage of the minimum payment for the shares will purchasers have to make while they buy partly paid shares with share premium?
    For Eg. Par value $100 and share premium $100

    Many Thanks

    January 13, 2022 at 10:28 am #645835
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22553
    • ☆☆☆☆☆

    This has got to be a private company with only $100 shares

    To the best of my knowledge, there’s no minimum payment necessary. In fact, I remember having an investment in a company that reduced its share capital (another of my great investments!) where my holding of, say, 400 shares of £1 each fully paid became a holding of 400 shares of 10 pence each credited as 1 pence paid. And then the company called up the remaining 9 pence per share

    Back to your question, where the company wishes to issue 100 partly paid shares at a premium of $1 per share, I suggest the minimum amount payable would be $1.01 per share

    Does that answer you?

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