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Heavens Ltd is a company that was formed in 1990 to manufacture gliders for sale...
Law Essay Title: Heavens Ltd is a company that was formed in 1990 to manufacture gliders for sale in the UK and certain overseas markets. It has a nominal share capital of 400,000, comprised of 300,000 ordinary shares of �1 each and 100,000 preference shares of �1 each. James, Brian and Melissa are the Directors of the company and receive salaries as a consequence of holding these positions. They are also the only shareholders and their holdings are as follows: � James holds 120,000 ordinary shares and 40,000 preference shares. � Brian holds 120,000 ordinary shares and 40,000 preference shares. � Melissa holds
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