Evaluate Dave Ellis proposal to cancel the dividend with respect to the implication for investors with reference to Modigliani and Miller

Write a Report addressed to Dave Ellis that:

a) Discusses the way in which Autotrader raised £200m of finance and compare this with other methods available.

b) Consider the mitigation of the impact of COVID to

• working capital and short term finance

• Medium and Long Term Finance

c) Evaluate Dave Ellis proposal to cancel the dividend with respect to the

implication for investors with reference to Modigliani and Miller