Sovereign Ltd has an issued capital of 300,000,000 shares sold at $2 each.Aman holds 6,000 shares.If Sovereign Ltd makes a 1 for 3 bonus issue,how many bonus shares will Aman acquire?

Question

Quizplus · Accepted Answer

A 1 for 3 bonus issue means that for every three shares held by a shareholder, they will receive one bonus share. Since Aman holds 6,000 shares, he will be entitled to receive 2,000 bonus shares (6,000/3 = 2,000). Therefore, the correct answer is C) 2,000 shares.

Sovereign Ltd Has an Issued Capital of 300,000,000 Shares Sold