Jetcon Corporation Limited (JETON) held its first Annual General Meeting on June 14, 2017, and reported that the following business was transacted:
1. “To receive, consider and if thought fit approve the Audited Financial Statements of the Company for the year ended December 31, 2016, together with the Reports of the Directors and Auditors thereon.” This was approved by majority vote.
2.i) “To propose an amendment to article 99 of the Company’s Articles of Incorporation regarding Retirement of Directors, which states: “At the first Annual General Meeting of the Company all Directors shall retire from office and at the Annual General Meeting in every subsequent year all of the Directors for the time being shall likewise retire from office”
Resolution: Be it resolved that article 99 of the Company’s Articles of Incorporation be amended by substituting the words “one third of the directors or the nearest whole number thereto, shall retire from office at every other Annual General Meeting” after the words”subsequent year” to the end of the sentence.” This resolution was passed by majority vote.
ii) “To propose an amendment to article 100 of the Company’s Articles of Incorporation regarding Age of Directors, which states: “No person shall be appointed or re-appointed a director if at the time of his proposed appointment he has attained the age of seventy years”.
Resolution: Be it resolved that Article 100 of the Company’s Articles of Incorporation be amended by substituting the word “seventy-five” for “seventy”. This resolution was passed by majority vote.
3) All Directors retire and being eligible offer themselves for re-election.
Resolution: (i) be it Resolved that John Jackson, Andrew B Jackson, Andrew Joel Jackson, Dr. Christine Clarke-Dougherty, Carl Carby, Garth McKenzie and Karl Wright, who have retired and eligible for election be and are hereby elected. This resolution was passed by majority vote.
4) As Special Business, to propose that Sean Jackson be appointed a director of the Company.
Resolution: Be it resolved that Sean Jackson who is eligible for election, be and is hereby appointed a director of the Company. This resolution was passed by majority vote.
5) To approve the remuneration of the Directors:
To consider, and if thought fit, pass the following resolution: That the amount shown in the Audited Financial Statements for the year ended December 31, 2016 as remuneration and fees to the Directors for services as Directors be and is hereby approved. This resolution was passed by majority vote.
6) That pursuant to Article 48 of the Articles of Association of the Company A)”that each of the authorised ordinary shares in the capital of the Company be subdivided into 4 units each for every 1 that currently exists, resulting in the authorised capital being increased to 1,200,000,000 ordinary shares of no par value”. This resolution was passed by majority vote, as an ordinary resolution.
B)”that the issued capital be subdivided into 3 shares for every one currently issued, effective for shareholders on record at the close of business on June 26, 2017″. This resolution was passed by majority vote, as an ordinary resolution.
7) To reappoint Crooks Jackson Burnett, Chartered Accountants, as auditors of the Company for the ensuing year and to authorise the directors to fix their remuneration. This resolution was passed by majority vote.
The ex-stock split date is June 22, 2017.
