The correct answer is: A. shares can not be issued at discount.
A company cannot issue shares at a discount on its face value. This is because the face value of a share is the amount that the company is legally obliged to pay to the shareholder on redemption of the share. If a company issues shares at a discount, it would be effectively paying less than the face value of the share to the shareholder, which would be illegal.
There are a few exceptions to this rule. For example, a company may issue shares at a discount if it is a private company and the shares are being issued to employees or directors of the company. Additionally, a company may issue shares at a discount if it is a listed company and the shares are being issued to a new shareholder in exchange for assets or services.
However, these exceptions are limited and, in general, companies cannot issue shares at a discount.