Chuky - I pulled out all previous MEMORANDUM OF ASSOCIATION and...

Chuky - I pulled out all previous MEMORANDUM OF ASSOCIATION and compared them side by side. It looks like there is only one change with latest version, which is:

The share capital of the Company is US$50,000 divided into 500,000 shares of a par value of US$0.10 each.

Vs.
The share capital of the Company is US$50,000 divided into 50,000 shares of a par value ofUS$1.00 each.

The clause 7 which I referred was already there in the prior versions. So, transfer of shares requires directors permission stands from the begining.
My interpretation may not be valid if it stands from begining.

I like what @Tradingdreamz88 is suggesting could be the case. The email also says "This is NOT and information session NOR an update – this will occur in the very near future."

Lets see whats there on 3rd of June.