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a) Harshish has recently acquired 48% of Bossy Ltd following a partial takeover bid. Harshish would like to replace the existing directors of Bossy Ltd
- a) Harshish has recently acquired 48% of Bossy Ltd following a partial takeover bid. Harshish would like to replace the existing directors of Bossy Ltd but the Board of directors refuses to call a meeting. Advise Harshish.
- (b) Suppose a meeting is eventually called and resolutions put to dismiss the existing directors. On the show of hands, Harshish is outvoted. When Harshish calls for a poll, the Chair refuses the request and continues with the meeting. The company has 50 shareholders with no one shareholder (other than Harshish) controlling more than 5% of the shares. Discuss Harshish's rights in this matter.
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