Take Home Exam 8 – Shareholder Remedies Michael is the managing director and sole shareholder of ModelYou Pty Ltd, which runs a personal training…

Take Home Exam 8 – Shareholder Remedies
Michael is the managing director and sole shareholder of ModelYou Pty Ltd, which runs a personal training business. In order to obtain ideas to improve his business, Michael takes a 4% shareholding in his competitor BetterYou Ltd. This shareholding enable him to gain a seat on the board as a non- executive director of BetterYou. Thus Michael is able to gain information about their strategic future planning. This gives ModelYou a substantial commercial advantage.
BetterYou are concerned about one of their directors and shareholders actively competing against the company, so the other directors propose to change the BetterYou constitution such that all shares issued to directors in the past three months must be acquired by BetterYou for fair compensation. Only Michael has received shares in the past three months.
Michael is furious at this proposal, however the vote at the general meeting passes with 96% approval.
Advise Michael as to his rights in this situation. The post Take Home Exam 8 – Shareholder Remedies Michael is the managing director and sole shareholder of ModelYou Pty Ltd, which runs a personal training… first appeared on Submit Your Homeworks.Take Home Exam 8 – Shareholder Remedies Michael is the managing director and sole shareholder of ModelYou Pty Ltd, which runs a personal training… was first posted on October 7, 2020 at 2:44 am.©2019 "Submit Your Assignment". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@essaysresearch.org

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