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Pioneer Co

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Pioneer Co. is a holding company of two subsidiaries, namely Ryzen Co. and Panther Co.

On January 2017, Sherman Co. intended to purchase the shares owned by Pioneer Co in Ryzen Co. Consequently, Sherman Co managed to obtain a loan from The
Fortune Bank for financing the purchase. The Fortune Bank requires a security and Sherman Co. had proposed to the board of directors of Pioneer Co that the security would be provided by Panther Co.

On August 2018, Pioneer Co had passed a board resolution to waive the unpaid amount owed by a shareholder for the shares issued by Pioneer Co to the shareholders in 2016. These shares are then registered as fully paid up in the register of members and shareholding.

On July 2019, the board of Pioneer Co had also received an offer for its shares from Bless Co. Both companies agreed that Bless Co will apply for a loan in order to purchase the shares and the directors of Pioneer Co undertake to become the guarantors for the loan.

On March 2020, Pioneer Co had issued shares to some of its employees who have exercised their right under an employee share scheme established in 2017. These shares were issued at a fixed price of $2.50 per shares when the market price for the shares is $6.00.

Explain whether the above are financial assistance under the Companies Act 2016.