Determine the company’s reserve share capital?

Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

A. N2500 000
B. N1000 000
C. N1500 000
D. N2000 000

Correct Answer:

Option B – N1000 000