5/18/2011 Example 2 ·The memorandum of a company states that:“The share capital of the company is $500 divided into 500 shares of $1 each."Upon incorporation,300 shares have been issued to the company's initial subscribers The shares are issued partly-paid to $0.30 per share. No calls have been made for the unpaid amounts on the shares. Authorised capital = Issued capital = Paid up capital = 。Unpaid capital=？ Uncalled capital = 13 Consideration paid for shares ·Price for shares Contribution to share capital In cash 。ln-kind >Share premium >What is the use of share premium? Payment in instalments Legal significance When do you become a shareholder? 14 75/18/2011 7 13 Example 2 • The memorandum of a company states that: “The share capital of the company is $500 divided into 500 shares of $1 each.” Upon incorporation, 300 shares have been issued to the company’s initial subscribers. The shares are issued partly-paid to $0.30 per share. No calls have been made for the unpaid amounts on the shares.  Authorised capital = ?  Issued capital = ?  Paid up capital = ?  Unpaid capital = ?  Uncalled capital = ? 14 Consideration paid for shares • Price for shares • Contribution to share capital  In cash  In-kind Share premium What is the use of share premium? • Payment in instalments  Legal significance  When do you become a shareholder?