Bermudan Law Section 96

Here is an exact extract of Section 96 of Bermudan Companies Act 1981:




Zhilin Li (Abraham Li) signed on an ASX announcement saying:
Subject to directors’ fiduciary duties, there is nothing in the Bermuda Companies Act
which would require the Company to obtain shareholder approval prior to entering into a
transaction with a related party shareholder.
Similarly, there is nothing in the Company’s Bye-laws which prevents the Company
entering into a related party transaction or requires shareholder approval to enter into
such a transaction.

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Mr Abraham Li clearly thinks minorities are stupid and has not bothered to do our homework.