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B. Check the ECC800 module fan
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Answer: C

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The directors of Zed Ltd issued a number of shares to their supporters, so that they would vote against a takeover bid by Exe Ltd.
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B. If the directors had the legal authority to issue shares, the issue cannot be challenged by the shareholders.
C. If the shares were issued for a non-cash consideration, they were not subject to the statutory pre- emption rights of shareholders unless the articles of association so provided.
D. The share issue is voidable and the original shareholders may ratify or cancel the issue by ordinary resolution.
Answer: B

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