Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 368

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 368
---
man Islands law, directors owe fiduciary duties to the company, including a duty of loyalty, a duty to act honestly, and a duty to act in what they consider in good faith to be in the company’s best interests. Directors must also exercise their powers only for a proper purpose, exercise their powers fairly as between different sections of shareholders and exercise independent judgement. Directors should not improperly fetter the exercise of future discretion nor put themselves in a position in which there is a conflict between their duty to the company and their personal interests. Directors also have a duty to act with skill and care. It was previously considered that a director need not exhibit in the performance of his or her duties a greater degree of skill than may reasonably be expected from a person of his or her knowledge and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and care and these authorities are likely to be followed in the Cayman Islands. In fulfilling their duty of care to World Media and Entertainment Universal Inc., directors of World Media and Entertainment Universal Inc. must ensure compliance with World Media and Entertainment Universal Inc. memorandum and articles of association, as amended and restated from time to time, and the class rights vested thereunder in the holders of the shares. World Media and Entertainment Universal Inc. has the right to seek damages if a duty owed by its directors is breached. A shareholder may in certain circumstances have rights to seek damages in the name of the company if a duty owed by its directors is breached. Appointment and Removal of Directors The Amended aWME Articles provide that all directors may be appointed by ordinary resolution and removed by ordinary resolution. The Amended aWME Articles also provide that the directors may, by the affirmative vote of a simple majority of the remaining directors, appoint any person to be a director so as to fill a casual vacancy or as an addition to the existing board of director. Directors of World Media and Entertainment Universal Inc. are generally not subject to a term of office and will hold office until such time as he or she resigns his office by notice in writing to World Media and Entertainment Universal Inc., is removed from office by ordinary resolution or is otherwise disqualified from acting as a director or removed in accordance with the Amended aWME Articles. The office of a director shall be vacated if, amongst other things, such director (a) becomes bankrupt or makes any arrangement or composition with his or her creditors, (b) dies or is found to be or becomes of unsound mind, (