You are working as an adviser in a large financial institution. Your clients, Ginger and Rogers, are the directors of Twilight Happiness Pty Ltd a successful family company that provides residential aged care and retirement living in the Mornington Peninsula.
As well as being the directors, Ginger and Rogers each own a 50% shareholding in the company.
Twilight Happiness Pty Ltd has plans for a 75- bed state-of- the- art facility in upmarket Sorrento. The directors have plans for cordon bleau chefs, pilates and wellness instructors and a hydrotherapy pool for water aerobics to attract cashed-up retirees.
In order to fulfil these ambitious plans, Twilight Happiness Pty Ltd needs to raise $15 million.
The directors seek your professional advice.
Required
Advise Ginger and Rogers how the company should raise the $15 million.
What are the legal implications of your advice?
Please support your answer with relevant sections of the
Corporations Act 2001
(Cth) and/or case law.