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Boubaker
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<div>I can surmise it in one word “hogwash”</div>
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<div>Regards. <br>
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<div id="AppleMailSignature">Sent from my iPhone</div>
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On 18 Dec 2017, at 18:18, Sander Steffann <<a href="mailto:sander@steffann.nl">sander@steffann.nl</a>> wrote:<br>
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<div><span>Hi Boubakar,</span><br>
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<blockquote type="cite"><span>Can someone summarize this for us? I anticipate that it will be very much appreciated.</span><br>
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<span>Sure! In fact, Andrew already anticipated most of that in his email:</span><br>
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<blockquote type="cite"><span>The summary though is as follows:</span><br>
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<blockquote type="cite"><span>– YES the members can remove a director – the process would be as follows:</span><br>
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<blockquote type="cite"><span> • Utilizing clause 7.6.viii of the bylaws invoke an SGMM – for the purposes of passing a special resolution to amend the bylaws to allow the community to remove a director – and please note – that special resolution could set
the required voting percentage to remove said director at whatever they liked – there is now low watermark – it is subject to whatever is in the constitution (as per section 138.2 of the companies act)</span><br>
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<blockquote type="cite"><span> • Once (a) was completed – call a second SGMM – for the express purpose of the removal of one or more directors – send out the notice of said meeting with the required 14 day notice period - and then pass a resolution as permitted
by the process performed in (a)</span><br>
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<span>Many of the details depend on whether legally Resource Members are seen as shareholders of Afrinic, or if only the 9 Registered Members (= the board) are considered as such. It is a question that I honestly have no answer to, and although Andrew expressed
his opinion, he does note that he is not a lawyer and would like independent legal counsel on the matter.</span><br>
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<span>Cheers,</span><br>
<span>Sander</span><br>
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