The correct answer is: A. A right of equity shareholders to get newly issued shares.
A pre-emptive right is the right of existing shareholders to purchase a proportionate number of newly issued shares in a company. This right is designed to protect the existing shareholders’ interests by ensuring that they do not lose control of the company as a result of new shares being issued.
Option B is incorrect because debenture-holders do not have a pre-emptive right to purchase newly issued shares. Debenture-holders are creditors of the company, and their rights are limited to receiving interest payments and the repayment of the principal amount of their debt.
Option C is incorrect because the manager of a company does not have a pre-emptive right to purchase newly issued shares. The manager is an employee of the company, and their rights are limited to those that are specified in their employment contract.
Option D is incorrect because employees of a company do not have a pre-emptive right to purchase newly issued shares. Employees may be granted shares in a company as part of their remuneration package, but they do not have a right to purchase shares on the same terms as existing shareholders.