takeover, page-22

Thank you Seda for the clarification and you flyboy for your views.

As I understand it, the procedure to dismiss one or more directors is for one or more shareholders to call a general or special meeting of the shareholders to vote on the motion(s)(to dismiss one or more shareholders). The shareholders then vote like they would for any other resolution.

Depending on the Constitution of TMX, if IMX were to control 50% of the voting shares of TMX, AND the Board of Directors of IMX (Not David Zohar)desired to remove one or more of the TMX directors they would be in a stong position. However, if the Constitution requires 70% of the votes to remove a Director, wind up the company etc, IMX would be in a much weaker position.I do not know the answer to this.

I think a much more serious problem is why to IMX want TMX. As previously postulated, I think it is for control of Bundarra. If Keith were to go, it would be collateral damage.