NORDLYS PLAN EDIT JAN 2017

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Retirement , transfer and non-participation Article 14 A) A shareholder can only sell their shares with written permission of the agent. B) A shareholder can terminate their participation by: i) In the event of bankruptcy, insolvency or if a legal person, dissolution, on the date of the application for suspension of the bankruptcy or the decision to dissolve . ii) by transfer of the share in accordance with paragraph C of this Article . iii) a decision of the shareholders taken by a majority of at least two/ thirds of all votes cast, due to an important reason. C) In case shareholders are part pursuant to paragraph B (ii) of this section wishes to sell his share can put it up for sale can send an official sealed request to the agent. If the agent replied that he wishes to acquire the share, the purchase price between the parties will be determined by mutual agreement. If within thirty days, it has not led to an agreement in respect of the purchase price, after the part was offered to the agent this consultation and the agent communicates not want to proceed with the purchase, the shareholder has the right to put the share up for sale for a period of one year starting directly one month after negotiation with the agent. The shareholder may not sell their share at a lower price then the agent has bid. An acquisition by a third party as referred to above, in which the stipulations to be taken into account client in Article 5 is opposite the agent , if and when it is approved in writing by the Agent, which notice shall contain at least the name of the buyer, as well as his address and place of residence and the purchase price for which the part is sold. The agent is responsible for the endorsement of the acquisition in the books of the shipping company. D ) In the event of retirement at paragraph B (i) and (iii) the departing shareholder has shares valued as recorded in the company accounts as well as in the reserve capital at the date of retirement. The Agent is irrevocably authorized to perform all acts which aim at the shareholders in respect of the retiring shareholder and the remaining shareholders should come together to produce the money. Termination of Shipping Company Article 15 A) The shipping company may be dissolved by a decision from the shareholders with a majority of at least two / thirds of all votes cast . B ) At the termination of the shipping company the shareholders are entitled to the value of their shares capital which is currently in the books of the company. C) If the company terminates its business the shares will be liquidated by the agent . As soon as possible The provisions of Article 7 remains during liquidation. D ) In case of liquidation, the shareholders do not have the right to retain the name of the shipping company unless permission is given by the other shareholders. E) Liquidation profit is distributed in proportion to the number of shares held. The liquidation loss is carried to the limit of the amount of their participation. A shareholder never needs to pay more than the value of the shares purchased. - 19 -
C) Specifications SPECIFICATIONS S.V. <strong>NORDLYS</strong> Name: Nordlys Vessel type: Ketch rigged trading smack Owner: Nordlys Shipping Co, Willemsoord 73, 1781 AS, Den Helder, NL Callsign: YJTS2 Year built: 1873 (Conversion 2014) Material: 2 inch pine on oak, galvanized metal fastenings Certification: Cargo ship safety certificate (to be obtained before sailing) Gross tons: 47.63 Net tonnage: 23.39 Length on deck: 19.9 meters Beam: 5,4 meters Draught, stern: 3 meters Draught, forward: 1.5 meters Air draught: 23 meters Sails: Flying jib, Jib, Staysail, mainsails, main topsail, Mizzen, Mizzen to sail Sail area: 290 m2 Generator: 22 Kwa Navigation: GPS, Compass, Radar, AIS, Gyro compass Communication: VHF-DSC, GMDSS Navtex, 2 handheld VHF’s Safety gear: 12 persons raft (viking), 12 lifejackets, 2 life rings, EPIRB, SART, Wooden rowing tender Fire fighting gear: 2 inch fire pump (capacity 260 ltr minute), 3 extinguishers Cargo capacity: 25-30 m3 Hatch size: 270cm x 270cm Fresh water: 750 liter Accomodation: Aft 3 bunks, forward 8 bunks, mess room and galley Crew: Maximum 9 - 20 -
Page 1 and 2: The NORDLYS Shipping Company Invest
Page 3 and 4: This investment plan has been writt
Page 5 and 6: 1.3 Fairtransport Shipping BV The D
Page 7 and 8: 2.2 Trainee sailing - Inspiring a n
Page 9 and 10: 3.2 The Nordlys The Nordlys, at 48
Page 11 and 12: 5 Marketing Plan 5.1 Features and B
Page 13 and 14: 6.2 Personnel Plan The Nordlys will
Page 15 and 16: - 12 -
Page 17 and 18: 7.3 Finance Plan In 2014 the Nordly
Page 19 and 20: a) The refit and ownership of the K
Page 21: Death of one of the shareholders Ar
Page 25 and 26: Photos used in this business plan s

NORDLYS PLAN EDIT JAN 2017

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