I'm not 100% sure but becuase your MD has such a high % of...

I'm not 100% sure but becuase your MD has such a high % of ownership the only way to get rid of him is:

1) He dismisses himself 'honourably'

2) Board of Directors can elect to vote him out

3) Legally throught the courts. Not sure, I think you need 5% of voters to take the board of director to court (someone may have to correct me on this).

Nonetheless, I agree with others (as other would have recogised through my posts) that with the MD around this company will have a very poor reputation. He has already had enough chances - all I can see is huge dilution from here. Cannot see how this company could be a takeover target after releasing such a poor (i dont even know what to call it) 'upgrade'.

Could someone please confirm this post.