In a notification to the
Shareholders of the ETI had last March met in
It therefore, directed ETI to implement a remedial plan that will eliminate the lapses. The Commission also asked ETI to convene an extra-ordinary General Meeting of the shareholders to address these issues.
In line with the
Under the new Articles of Association ETI shall not undertake any acquisition, merger or disposal of the company's assets whose value is equal to or above 20 per cent of the book value of the company without the approval of a simple majority of the shareholders present in general meeting.
The shareholders voted to limit the maximum size of the board to 15 members, and pressed that no director could serve more than nine years in total.
However, the a resolution to authorise the Board of Directors to raise additional capital as the company may require up of up to twenty per
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