Welcome to the East Terran Trading Company also known as the ETTC!
East Terran Trading Company Ltd. Shareholders’ Charter, 1st Edition
This charter details the partnership terms agreed upon by all shareholders in this company. These terms may be revised at a later date, when required, with the consent of all shareholders.
I. Paid-up Capital
Starting capital for the ETTC account: 100 DB x shareholders.
Should the ETTC account require additional capital in times of emergency, all shareholders shall be required to contribute funds in equal portions. Any shareholder who is unable to meet the full commitment or part thereof may be covered for by another shareholder, whereby his monthly dividend shall be paid to the supporting shareholder, until a point when the commitment repaid in full.
II. Executive Appointments
a) Chairman of the Board
As head of the company the chairman shall direct the investment strategy of the company.
He shall represent the ETTC as the face of the company in all transactions and is authorised to transfer funds for any collective purchase. He is appointed by the general assembly. Currently, Don Isaac Montoya is chairman of the ETTC.
The treasurer is responsible for maintaining the financial records of the company in the form of a monthly balance sheet and paying of dividends to the shareholders. The balance sheet shall be made available, on demand, to any shareholders. Appointed by the chairman, the current treasurer is Ibn al'Sayeed.
III. Dividend Policy
Dividends will be paid out after a decision to that effect has been made by the general assembly.
IV. Compensation for contractors (builders)
Contractors will be compensated based on customary practices negotiated on a case to case basis. For Royal properties, 1.000 DBs are distributed amongst the contractors based on the size of their contribution.
V. Future shareholders
This being an economic, non-political alliance, all upstanding members of Corrington with the necessary funds shall be permitted to buy a share in ETTC.
The price of the share will be calculated so that the ownership shares are equally distributed after the transaction. (I.e a price equal to the book value of current shares) At any given time, the general assembly can decide to levy a premium to this value.
VI. Liquidation of shares
At any time, a member may choose to sell his share back to the company for its book value, pending the approval of the general assembly and the availability of liquid funds.
Shares may only be sold back to the company, not to other members, so as to preserve balance.
VII. Voting Rights
In matters that cannot be resolved by mutual agreement, a member may motion for a popular vote.
All shareholders shall be entitled to 1 vote. A shareholder may choose to abstain.
In the event of a tie, the chairman's vote shall count for 1.1 votes.
VII. Loyalty to Crown and Company
All shareholders are obliged to act in the interests of both the Crown and Company, before all personal interests. Any shareholder found guilty of treason or espionage shall be expelled without compensation. For lesser offences, a fine may be imposed.
The Crown of Corrington
Sir Thomas Smaugton ( @Tomsche)
Micah of Wolfhaven ( @SilentWolf)
Major Dirk Allcock ( @Ayrlego)
Governor Aiden Coyle ( @Mike S)
Viscount Chauncy Pennington ( @Scarst)
Admiral Woodbrose ( @SkaForHire)
Lenny Merryweather ( @CelesAurivern)
Puvel ( @Puvel)
John Hawksbrough ( @Fuzzy MacFuzz)
Sir James Chase ( @BrickOn)
Leftenant Bertram Rickard Wolf ( @Brickwolf)
Don Isaac Montoya ( @Bregir)
Current ETTC Activities:
Royal Cocoa Factory: Under construction
Headquarter: Contractor wanted
Warehouses and tradeposts: Contractors wanted