The following number of directors resign, you will need to amend this MOI to change that! directors: [INSERT NUMBER] The directors who have been nominated and appointed by the following shareholders: [INSERT SHAREHOLDER NAME]; [INSERT SHAREHOLDER NAME] [INSERT SHAREHOLDER NAME]; The following named directors: [INSERT DIRECTOR NAME] [INSERT DIRECTOR NAME] [INSERT DIRECTOR NAME] How will Choose one and delete the others: Where a certain shareholder has the right to nominate a director, we directors vote Each director will have one far prefer each director to have the number of votes equal to the vote number of shares held by the shareholder who nominates him. Each director will vote It gets slightly more complicated number of shares held by when a shareholder has the right to appoint more than one director! shareholder who nominated that Basically, you need to ensure that directors (divided by the number each of that shareholder’s directors votes an equal number of votes. of directors nominated by that However, if only one director is shareholder, who vote on the present at the meeting, then he/she can vote all the votes. same topic) The Board’s Choose one and delete the others: power to The Board may only correct amend this obvious errors: for example, MOI spelling, punctuation, reference, grammar or similar defects.
The following number of directors: [INSERT NUMBER] The directors who have been nominated and appointed by the following shareholders: [INSERT SHAREHOLDER NAME]; [INSERT SHAREHOLDER NAME] [INSERT SHAREHOLDER NAME]; The following named directors: [INSERT DIRECTOR NAME] [INSERT DIRECTOR NAME] [INSERT DIRECTOR NAME] directors resign, you will need to amend this MOI to change that! How will directors vote Choose one and delete the others: Each director will have one vote Each director will vote number of shares held by shareholder who nominated that directors (divided by the number of directors nominated by that shareholder, who vote on the same topic) Where a certain shareholder has the right to nominate a director, we far prefer each director to have the number of votes equal to the number of shares held by the shareholder who nominates him. It gets slightly more complicated when a shareholder has the right to appoint more than one director! Basically, you need to ensure that each of that shareholder’s directors votes an equal number of votes. However, if only one director is present at the meeting, then he/she can vote all the votes. The Board’s power to amend this MOI Choose one and delete the others: The Board may only correct obvious errors: for example, spelling, punctuation, reference, grammar or similar defects.
Skylaw-MOI-June-2015.docx