Re: [mosig] Re: [ossig] MOSIG: Formation of Company - Inaugural Meeting17th July 2004

[Molly Cheah <drcheah@xxxxxxxxxxxx>]

Tze-Meng Tan wrote:

> it might sound like an NGO but unless we have some kind of mechanism 
> for decision making in the organisation, commercial or otherwise, we 
> are going to be there all night long - remember every shareholder is 
> an equal, no one gets appointed to the board, we need a mechanism 
> where board members are chosen by the shareholders too
>
> otherwise what do you suggest ?
>
I had explained the mechanism during the 1st meeting before it was 
agreed that we work on the MOSSIG version of the Shareholders collective 
agreement document. Here are the steps:
1. Acceptance of the content of the shareholders collective agreement 
document by those who want to buy shares into this company.
2. Incorporation of a RM2 company by 2 people. The company will contain 
clauses which refers specifically to accepting others based on the 
collective agreement.
3. Those who want to buy shares into the company  has to pay up and 
commit by signing up in the signing page/schedule1 which will then be 
part of the collective agreement document.
4. An AGM is called and only those who had paid and signed up will be 
able to attend this shareholders meeting. The business of the AGM will 
include election of directors, incorporating the contents of the 
agreement into the M&A of the RM2 company etc etc etc.
5. The company then functions......

Molly


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