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2) ECG Limited (ECG) is an established company with four shareholders, Adam, Bob, Claire, and David. Each of the shareholders hold a 25% interest in

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2) ECG Limited ("ECG") is an established company with four shareholders, Adam, Bob, Claire, and David. Each of the shareholders hold a 25% interest in ECG. Adam, Bob, and Claire are members of the board of directors, while David is not. Recently, David has become concerned about the affairs of the company. i. Though the company is extremely profitable, the board of directors refuse to declare any dividends because they want to invest in company expansion. David believes ECG has a legal obligation to pay dividends since ECG is so profitable and because David feels it is the fair thing to do. ii. David would also like to add two additional directors to ECG's board of directors. The first director that David would like to add is Dennis. Dennis is David's 17 year-old brother. Dennis is a genius, has already graduated from HKU with an accounting degree, and has established many successful start-ups. The second director is George. George is 40 years old. George was a successful businessperson, but his business failed a few years ago. George has never broken the law but has had two bankruptcies in the past, which are both resolved now. Please advise David regarding i. and ii. above

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