BOTANY

Detailed explanation-1: -6.1 The ultimate responsibility to appoint/remove directors should be that of the Company (Shareholders). If the Directors themselves are legally disqualified to hold directorships, they should have an equal responsibility for disclosing the fact and reasons for their disqualification.

Detailed explanation-2: -Members of the Board of Directors shall be elected by the General Meeting of Shareholders in the order provided in the Federal law “On Joint Stock Companies” and the Company Articles of Association for the period until the following Annual General Meeting of Shareholders in the number of 11 (eleven) persons. 2.2.

Detailed explanation-3: -Who are owners of a corporation? Shareholders are actual owners of a corporation, while the board of directors manages the corporation. The law acknowledges a corporation as a completely separate, legal entity.

Detailed explanation-4: -A board of directors is essentially a panel of people who are elected to represent shareholders. Every public company is legally required to install a board of directors; nonprofit organizations and many private companies – while not required to – also name a board of directors.