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Bill, Steve, Mary and Cai invent a new skin rejuvenation cream, called Elluminate. They set up a company to own all of the intellectual property

Bill, Steve, Mary and Cai invent a new skin rejuvenation cream, called "Elluminate". They set up a company to own all of the intellectual property of their invention. 2000 shares are issued to each of Bill, Steve, Mary and Cai, and they each become a director of their new company, "Elluminate Skin Pty Ltd" (ES). The members remunerate themselves mainly through dividends. After a few months of working closely together to market Elluminate, Bill, Steve, Mary and Cai have a falling out. Bill, Steve and Mary want to expand sales into Asia but Cai thinks the company should expand into the European market instead. Due to this disagreement, they remove Cai from the board of directors. A few months later, Bill, Steve and Mary lose interest in the skin rejuvenation business and decide to focus on hair regrowth products instead. They stop marketing Elluminate. Instead, they use the resources in ES to develop a hair regrowth product and used ES resources to market and sell this hair regrowth product which they call Regrow Hair. Bill, Steve and Mary then set up another company called Hair Regrow Pty Ltd to own the intellectual property in their Regrow Hair invention. They are the directors and shareholders of Hair Regrow Pty Ltd. Cai is excluded. Sales of Elluminate decline and ES stop making profits. As directors of ES, Bill, Steve and Mary decide to stop the payment of dividends, which means Cai no longer receives any dividends. Advise Cai whether he has any remedies as a shareholder of Elluminate Skin Pty Ltd.

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