Company law problem question
Primemetro 'U' Ltd was incorporated in Uganda on the 3rd day of September 2017 as a public limited company. Upon acquiring a trading licence, the company started operations successfully. The company has held only one meeting, a statutory meeting since its inception. Thomas Lugezigezi, a shareholder in the company has requisitioned for any other meeting from members but the members have indicated that it is not necessary to hold any other meeting. Thomas Lugezigezi is displeased with the response.
Jack Mutwe and Pedro Wagumbulizi were appointed directors of Primemetro 'U' Ltd. To upgrade their status, they bought two Toyota Land Cruiser Prados and two mansions in Muyenga using the Company's profits. Harriet Mugwanya, a shareholder in the company strongly contests this action. Jack Mutwe and Pedro Wagumbulizi have developed personal differences and to side-line him, Jack Mutwe has appointed Jill Mutwe and Joan Mutwe, his wife and daughter as directors of the company. He also passed a resolution to pay UGX 20 Million each as their monthly salary.
Meanwhile, Shariffa Asiimwe, the secretary of the company bought 30 acres of Land located in Kyankwanzi at UGX 10 million in June 2022 from the company; recently, she hired brokers to solicit for buyers willing to pay 230 million for the same land. Nsimbe Akram holding 2% shares in the company is dissatisfied with the transaction and wants to cancel Shariffa Asiimwe's ownership of the land. Accordingly, Deus Bugirimaana, has called a meeting with all shareholders apart from Nsimbe Akram and has convinced them to scrap off the 2 shares Nsimbe Akram holds in the Company for being a headache to the company. In addition, Boogezi Bugagakulya, the majority Shareholder of the company holding 52 % of the company shares has suggested to members that if Nsimbe Akram leaves, he is going to replace him with Bad Black who will help the company enter the lucrative Human trafficking business which will propel the company to greater heights.
Raise all the legal issues and advise the Parties.
Jack Mutwe and Pedro Wagumbulizi were appointed directors of Primemetro 'U' Ltd. To upgrade their status, they bought two Toyota Land Cruiser Prados and two mansions in Muyenga using the Company's profits. Harriet Mugwanya, a shareholder in the company strongly contests this action. Jack Mutwe and Pedro Wagumbulizi have developed personal differences and to side-line him, Jack Mutwe has appointed Jill Mutwe and Joan Mutwe, his wife and daughter as directors of the company. He also passed a resolution to pay UGX 20 Million each as their monthly salary.
Meanwhile, Shariffa Asiimwe, the secretary of the company bought 30 acres of Land located in Kyankwanzi at UGX 10 million in June 2022 from the company; recently, she hired brokers to solicit for buyers willing to pay 230 million for the same land. Nsimbe Akram holding 2% shares in the company is dissatisfied with the transaction and wants to cancel Shariffa Asiimwe's ownership of the land. Accordingly, Deus Bugirimaana, has called a meeting with all shareholders apart from Nsimbe Akram and has convinced them to scrap off the 2 shares Nsimbe Akram holds in the Company for being a headache to the company. In addition, Boogezi Bugagakulya, the majority Shareholder of the company holding 52 % of the company shares has suggested to members that if Nsimbe Akram leaves, he is going to replace him with Bad Black who will help the company enter the lucrative Human trafficking business which will propel the company to greater heights.
Raise all the legal issues and advise the Parties.
Original post by Okwii
Primemetro 'U' Ltd was incorporated in Uganda on the 3rd day of September 2017 as a public limited company. Upon acquiring a trading licence, the company started operations successfully. The company has held only one meeting, a statutory meeting since its inception. Thomas Lugezigezi, a shareholder in the company has requisitioned for any other meeting from members but the members have indicated that it is not necessary to hold any other meeting. Thomas Lugezigezi is displeased with the response.
Jack Mutwe and Pedro Wagumbulizi were appointed directors of Primemetro 'U' Ltd. To upgrade their status, they bought two Toyota Land Cruiser Prados and two mansions in Muyenga using the Company's profits. Harriet Mugwanya, a shareholder in the company strongly contests this action. Jack Mutwe and Pedro Wagumbulizi have developed personal differences and to side-line him, Jack Mutwe has appointed Jill Mutwe and Joan Mutwe, his wife and daughter as directors of the company. He also passed a resolution to pay UGX 20 Million each as their monthly salary.
Meanwhile, Shariffa Asiimwe, the secretary of the company bought 30 acres of Land located in Kyankwanzi at UGX 10 million in June 2022 from the company; recently, she hired brokers to solicit for buyers willing to pay 230 million for the same land. Nsimbe Akram holding 2% shares in the company is dissatisfied with the transaction and wants to cancel Shariffa Asiimwe's ownership of the land. Accordingly, Deus Bugirimaana, has called a meeting with all shareholders apart from Nsimbe Akram and has convinced them to scrap off the 2 shares Nsimbe Akram holds in the Company for being a headache to the company. In addition, Boogezi Bugagakulya, the majority Shareholder of the company holding 52 % of the company shares has suggested to members that if Nsimbe Akram leaves, he is going to replace him with Bad Black who will help the company enter the lucrative Human trafficking business which will propel the company to greater heights.
Raise all the legal issues and advise the Parties.
Jack Mutwe and Pedro Wagumbulizi were appointed directors of Primemetro 'U' Ltd. To upgrade their status, they bought two Toyota Land Cruiser Prados and two mansions in Muyenga using the Company's profits. Harriet Mugwanya, a shareholder in the company strongly contests this action. Jack Mutwe and Pedro Wagumbulizi have developed personal differences and to side-line him, Jack Mutwe has appointed Jill Mutwe and Joan Mutwe, his wife and daughter as directors of the company. He also passed a resolution to pay UGX 20 Million each as their monthly salary.
Meanwhile, Shariffa Asiimwe, the secretary of the company bought 30 acres of Land located in Kyankwanzi at UGX 10 million in June 2022 from the company; recently, she hired brokers to solicit for buyers willing to pay 230 million for the same land. Nsimbe Akram holding 2% shares in the company is dissatisfied with the transaction and wants to cancel Shariffa Asiimwe's ownership of the land. Accordingly, Deus Bugirimaana, has called a meeting with all shareholders apart from Nsimbe Akram and has convinced them to scrap off the 2 shares Nsimbe Akram holds in the Company for being a headache to the company. In addition, Boogezi Bugagakulya, the majority Shareholder of the company holding 52 % of the company shares has suggested to members that if Nsimbe Akram leaves, he is going to replace him with Bad Black who will help the company enter the lucrative Human trafficking business which will propel the company to greater heights.
Raise all the legal issues and advise the Parties.
Bad black sounds lit
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