Grove Board 2020

From Republic of Texas
GroveInvestments.250.png
Grove Leadership Board of Directors Charter Voting
Discord :: Offshore :: Official Bank :: Jobs

This document will serve to record all of the Board of Directors' voting record.

1st Quarter 2020

Note that during this Quarter, there were actually two Board terms. The First Board of Directors operated during the month of February and the Second Board of Directors operated during the month of March.

ID Date Result Summary
03161 16 March Approved Centralise all of our banking activities into a singular entity, which would be named Versailles
03171 17 March Rejected Change the charter to mandate a minimum number of shares owned to 2.5 million
03181 18 March Approved Suspend any actions and movement towards the creation of Versailles
03191 19 March Approved Invest $200 million into Spera Bank as a bond
03192 19 March Approved Invest $500 million into Wolfe & Borg as an investor account
03193 19 March Approved Accept the interpretation that the board has _snapped back_ to its size of 7 with War Hawk's departure
03211 21 March Approved Invest $50 million into Bank of Rohan as a bond
03221 22 March Approved Set dividends for this term to $0.16 per share, which comes to $80 million.
03261 26 March Approved Invest $300 million into Taith Group as an investor account

2nd Quarter 2020

ID Date Result Summary
03271 27 March Approved The newly elected Board is sat, and in their first act they terminated all employees except Forest as CEO and Presidential as CFO. Sidd, Rob, and Vader fill out the remainder of the Executive team.
03281 28 March Approved The Board made the very difficult decision to seize any assets owned or claimed by GrayBird to counteract their deliberate theft of Grove assets. All of these assets were transferred to the GEM Fund.
03311 31 March Approved The Board decided to use the software being made available by Taith to provide a much more easy to use system for managing our assets and ledger, as well as providing our shareholders with more accurate and up-to-date information. We also decided to phase out completely the use of the Google Spreadsheets, although no final date for this has been set.
04011 1 April Approved The Board reviewed all evidence regarding the claims Forest is the individual formerly known as Augustus on a rerolled nation. The Board found the claims to be insubstantial and further made the decision that even if the claim were provable we would not take any action on this matter. We decided that a former nation should be relegated to history unless the individual wants to claim that part of their history. Only in that situation can all the good and all the bad be attributed to them. Fresh starts are a part of the game.
04012 01 April Approved Approve the sale of our stake in Aiyr Bank for $200 million.
04091 09 April Approved The Board finalized our proposed Charter and has submitted it to the Shareholders for their input. We will be holding a vote very soon to officially ratify the new text.
04101 10 April Approved Moving forward we will be using Taith Group's bank as the official storage of our liquid assets. Additionally, this clarifies that anyone who is entrusted with the company's money is responsible for ensuring that the money is safeguarded, and accidental loss does not excuse their obligation to reimburse the company.
04102 10 April Approved The Board of Directors will continue to adhere to the established practice of every Board member casting a single ballot in official voting. The Board also actively uses consensus decisions in lieu of official voting for many situations where there is an obvious unified position.
04103 10 April Approved Forest will serve in the new capacity as Executive Director under the new Charter.
04104 10 April Approved Sidd will serve in the new capacity of Director of Development under the new Charter.
04105 10 April Approved Presidential will serve in the new capacity as Director of Operations under the new Charter.
04106 10 April Approved The Board of Directors will all have full, unlimited and unrestricted administrative powers on the Discord server. The management of the Discord server falls to the Board.
04107 10 April Approved Seized the shares of banned shareholder Natt; these shares are forfeit to the GEM Fund.
04131 13 April Approved A formal vote was held, and the Board voted to mandate that ownership of the server must be transferred Chairperson of the Board. Any time a change in Chair happens, ownership must transfer to the new Chair.
04141 14 April Approved No Executive or member of the Board may sell shares without the consent of the Board of Directors, and any sale must first also be approved by the Board of Directors. This is to guarantee against any insider or collusive trading scheme
04142 14 April Approved The Board of Directors have voted to designate Spera Bank as our official Banking Partner. This is the first step in negotiating a wider partnership and collaborative effort that will yield benefits for Grove's shareholders and clients.
04161 16 April Approved Grayson J Jefferson is barred from purchasing or possessing shares, being hired as an employee or officer, or utilizing the services of Grove Investments as a client or customer. They are further ineligible to act as a representative or agent for any other shareholder, employee, officer, client, or customer. Unless renewed, this prohibition will expire on 1 July 2020 at 00:00:01 BST.
04171 17 April Approved Forest has committed his shares as collateral to Bank of Rohan. As such, the Board is freezing his shares, prohibiting any movement, sale, transfer, or otherwise until Isildur notifies us either: that Forest has completed all necessary steps to restore full control over his shares, or, that Forest has defaulted on his loan, and the shares need to be moved to cover the loss.
04172 17 April Approved The Board voted to mandate that in the event that shares are used as collateral, the shareholder must notify us of the institution and lienholder immediately and that in doing so they recognize our authority to abrogate their rights to those shares and transfer them to the lienholder as applicable and necessary. Future collateral actions, like the one referenced in 04171, will no longer require a Board vote to freeze the shares.
04201 20 April Approved After consultation with the Shareholders, the Board of Directors approved a reverse-split of Grove's stock. Every 100 shares were merged into 1. This reduced our total number of shares from 500 million to 5 million.
04271 27 April Approved With the banning of Henry II (our 3rd largest shareholder), the Board voted to distribute those 250,000 shares proportionally to the remaining shareholders instead of seizing them to resell later. This does not constitute a permanent change in policy regarding banned individuals having their shares seized to be resold later. Our feeling is that we wanted to reward our shareholders for their continued loyalty to our company, especially in light of the fact that dividends won't be paid until the 1st of July.

3rd Quarter 2020

4th Quarter 2020