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schuaiiza · 2021年11月23日

详细的

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NO.PZ202110220100005203

问题如下:

Based on Exhibit 1, which of the following statements is correct?

选项:

A.

Due to also being on the board, the EnileGEN CEO has two votes for each share owned

B.

In the case of managerial misconduct, EnileGEN may be able to recover previously paid remuneration.

C.

Syvie Electric’s corporate structure can be described as having concentrated ownership and dispersed voting power.

解释:

B is correct. EnileGEN has a clawback policy, which allows a company to recover previously paid remuneration if certain events—such as financial restatements, misconduct, breach of the law, or risk management deficiencies— are uncovered. Consequently, EnileGEN may be able to recover previously paid remuneration from management in case of misconduct.

A is incorrect because even though EnileGEN’s CEO also serves as chair of the board (CEO duality), the CEO does not hold dual-class shares because the company has a straight voting policy (i.e., one share, one vote). Consequently, the CEO of EnileGEN does not have two votes for each share.

C is incorrect because Syvie Electric has concentrated ownership and concentrated voting power (58% of shares are owned by a single shareholder). Consequently, Syvie Electric’s ownership structure cannot be described as concentrated ownership with dispersed voting power.

老师,能麻烦详细的讲一下错的这两个选项吗
1 个答案

王琛_品职助教 · 2021年11月24日

嗨,从没放弃的小努力你好:


1

选项 A:由于也是董事会成员,E 公司的 CEO,1 股对应 2 个投票权

前半句话正确,后半句话错误

1.1

表 1 所示:E 公司的 CEO duality 为 Yes

CEO duality,即 CEO 兼任董事会主席

所以 E 公司 CEO 是董事会成员,前半句话是正确的

考查的知识点是 CEO duality

1.2

表 1 所示:E 公司的 Straight voting 为 Yes

Straight voting,即 1 股对应 1 个投票权

而选项 A 所述,为 Dual-class share,1 股对应「多」个投票权,与表 1 不符,所以错误

考查的知识点是辨析 Straight voting share structures 和 Dual-class share structures

2

选项 C:S 公司的结构是:集中的所有权,分散的投票权

前半句正确,后半句错误

2.1

表 1 所示:Percentage of shares owned by the largest shareholder:58%

最大的股东,持股比例达到 58%,所以对应集中的所有权

2.2

表 1 所示:S 公司的 Straight voting 为 Yes

所以持股比例最大的股东,对应的投票权也是 58%,所以投票权也是集中的,而不是选项说的分散

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努力的时光都是限量版,加油!

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