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The statutory right of pre-emption under S 561 requires that: A. If a company proposes to repay a proportion of its shareholders the amount of their paid-up share capital, it must offer the option to the holders of participating preference shares before other classes of shareholders. B. If a company proposes to allot equity securities for any kind of consideration it must offer these shares first to holders of similar shares in proportion to their holdings. C. If a company proposes to allot equity securities wholly for cash it must offer these shares first to holders of similar shares in proportion to their holdings. D. If a company proposes to reduce the amount of its issued share capital, it must offer cash to the holders of the largest blocks of shares first. |