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1. Jason and Thomas are executive directors of Excel Ltd for almost five years and hold 98% of the company shares. As majority shareholders in
1. Jason and Thomas are executive directors of Excel Ltd for almost five years and hold 98% of the company shares. As majority shareholders in the company, they have passed a resolution that has a clause "for the benefit of the company, all shareholders are bound to transfer their proportion to the managing directors as per directed". Believing that Jason and Thomas have a hidden agenda to take over the company, Leslie who hold the balance of shares of the company comes to see you seeking legal advice on his position in the company. Advise Leslie. Support your answers with decided case(s). (30 marks)
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