Strike Ltd (‘Strike’), incorporated in 2013, is a successful fashion and street footwear manufacturer, with a share capital of 2,000,000 fully paid ordinary shares at an issue price of $1.00 per share, and 100,000 full paid preference shares at an issue price of $2.00 per share. Therese sold the original footwear business to Strike under a pre-incorporation contract in 2013, and received a cash payment plus 35% of the ordinary shares in Strike. Therese has significant influence over the Strike directors, and the board regularly invites Therese to share her footwear expertise at Board meetings.
Strike does not have a constitution. Under a special resolution passed by Strike, as required by section 254A(2)