5/8/2011 Memorandum will say ·“The share capital of the company is $15,000,000 divided into 150,000 shares of $100 each". S/h with 500 shares may have to contribute s to the company,either upon acquiring the shares from the company,or at a later agreed date. What is the function of a share? 27 Limited by guarantee Each member agrees to contribute a maximum amount if the co is wound up. ·“..as may be required,not exceeding the sum of $100(or $1) Used when the members do not intend to divide up profits and the co doesn't need initial capital to operate (e.g.,club). 。Examples: 28 145/8/2011 14 Memorandum will say • “The share capital of the company is $15,000,000 divided into 150,000 shares of $100 each”. • S/h with 500 shares may have to contribute $____ to the company, either upon acquiring the shares from the company, or at a later agreed date. • What is the function of a share? 27 Limited by guarantee • Each member agrees to contribute a maximum amount if the co is wound up. • “ ... as may be required, not exceeding the sum of $100” (or $1) • Used when the members do not intend to divide up profits and the co doesn’t need initial capital to operate (e.g., club). • Examples: 28