R36, I think you summed up the questions of most shareholders...

R36, I think you summed up the questions of most shareholders nicely and I look forward to learning the answers.

At present, we have five directors, being:

1 - Nick Sheard
2 - Robert Hair
3 - Neil Williams
4 - Paul Cholakos
5 - Bin Cai (nominee director on behalf of Coglin Group who hold approximately 13% of CAP shares)

Silvergate (who hold approximately 20% of CAP shares) are proposing that we remove the first four directors and appoint two Silvergate nominees. The board will then look like this:

1 - Bin Cai (Coglin Group nominee)
2 - Wilson Cheung (Silvergate nominee)
3 - Eric Walsh (Silvergate nominee)

The entire board would then be comprised of nominee directors from one third of the shareholders with no independent representation for the other two thirds of shareholders. At this stage, I struggle to understand why Silvergate thinks the other two thirds of shareholders would support the resolutions proposed by Silvergate (assuming they have Coglin support).

Further, if they remove Nick as director, I assume that they won't want him as an employee and/or he won't wish to hang around. Therefore, who do they propose would mange the company? Do you know Edward?