The shares of Munana Limited, a private company are held Kiptui, Kibet and Ronoh. Kiptui and Kibet hold 90% of the company’s shares. However, they feel that the company is in need of further capital but due to squabbles, they are not willing to inject additional funds as long as Ronoh still holds some shares in the company. Further, Kiptui and Ronoh believe that Alex has another business which is competing with that of Munana Limited. To resolve the problems, Kiptui and Ronoh propose to alter the company’s articles of association adding two new articles. The first article will enable the shareholders of 90% of the company’s shares to compulsorily acquire the shares of the minority shareholder. The second article will require any shareholder who carries on competing business with the company’s business to transfer his shares to the nominee of the directors.
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