Initial Shares & Board Makeup
All shareholders from the original four companies will become shareholders in 53c. A total of 20,000 shares will replace all of the shares from the companies, and will initially be valued at $1 million each. Taith Group will be contributing the difference, raising our total company value to $20 billion. Taith is required to maintain at least 51% ownership in the new company, and may not sell below that minimum threshold.
The new company will be overseen by a nine-person Board of Directors. Taith has approximately 57% ownership in 53c due to their ownership interests in the four contributing companies. As such, 4 of the 9 board seats will be permanently assigned to the Taith Group, for their appointment of either their Stakeholders or their designated representatives. The remaining 5 seats will be appointed by the Taith Group from outside of their Stakeholders group.
All shareholders, proportional to their ownership, will vote to elect from the 9 board members an individual to serve as the Chairperson of the Board. This person will serve for a two-month term.
The Board has the full authority and responsibility to oversee the company and all its assets. Shareholders retain the right to sell their shares at any time, to any person not barred from owning shares.
The Board further retains the authority and right to, with a majority decision, exclude or forcibly buy-back the shares of any shareholder that is, in their discretion, problematic for the company and the cohesion of the remaining shareholders.
Each of the core divisions are wholly owned subsidiaries and may not be partially sold. If the Board decides to liquidate or sell off one of the five core divisions, it must be done wholly.
Voting Schedule & Dividends
The Board sets dividends monthly, which are automatically paid out on the last of each month. Selection of the Chairman, and any other voting that is necessary, happens via the Orbit Stock Exchange.
The next Shareholders Meeting will be held the weekend of 26th and 27th of December. Voting will happen via the Orbit Stock Exchange (the same place you get your dividends)
Board of Directors
Arkin served as President and a member of the Board of Directors of the Aur ac Arian Society, one of the companies that united to form 53c. He served as Chief Banking Officer, overseeing 53c Banking until its sale in October. He is now the Chief Portal Officer, ensuring our documentation is top-notch.
Factorian Kallio served as one of the original members of Spera's Steering Committee, the body that eventually became its Board of Directors. He was brought out of retirement by Naruu to serve as the Deputy Commodities Officer, and Taith determined that Commodities is valuable enough to require two board seats to represent the division.
General of the Union co-founded Spera Services, and was also the founder of Orbis Lottery (which became Spera Gaming). As the longest-serving shareholder, he is preeminently qualified to sit on our board. As our Chief Gaming Officer, General manages 53c Gaming.
Grayson J Jefferson previously was the Chief Financial Officer of Mountain Banking, one of our founding companies. Formerly our Deputy Chairman, he holds one of Taith's four board seats, and is 53c's Chief Auctions Officer.
Greene has served on the Boards of all four constituent companies, and is the Co-Managing Partner for the Taith Group. He holds one of Taith's four board seats. The founding Chairman for Spera, he was brought out of retirement and is currently serving as our Chairman of the Board of Directors.
Kinky Kali was one of the founding Board Members, and previously was CEO of Spera Bank and Chief Auctions Officer for 53c. She now serves as our Chief Investments Officer.
Lucianus has served in Spera's leadership since its first election, and prior to the corporate melding, served as Spera's Chairman. He previously served as 53c's Chairman, and now serves as Deputy Chairman for 53 Companies Group.
Naruu began with Spera as one of its original shareholders. He developed a private resource fund with other shareholders, which caught the eye of the Board. He was tapped, and now stands as our Chief Commodities Officer, and leads 53c Commodities.