OTCBB Symbol: EGDD
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Corporate Governance
EGI has established various committees which presently include an Audit Committee, a Remuneration Committee and an Ethics Committee. The Audit Committee has two members who the Company has determined are financial experts and who are considered “independent”, as the term used in Item 7(d)(3)(iv) of Schedule 14A under the Securities Exchange Act 1934. The Company plans to form such other committees as may be required by federal securities laws and the newly adopted rules of various stock markets and exchanges.
No director of the Company is also currently a director of any company registered pursuant to Section 12 of the Securities Exchange Act of 1934 or any company registered as an investment company under the Investment Company Act of 1940.
The persons on the Board of Directors will serve until the next annual meeting of stockholders, or until their successors have been elected. Officers serve at the pleasure of the Board of Directors unless such officers have specific employment agreements which provide for a definitive employment term. The Company presently has employment agreements with its President, its Chief Financial Officer, its Chief Technical Officer and its Secretary, each of which are for a period of one year commencing January 1, 2009.
Each of the foregoing persons may be deemed a “promoter” of the Company, as that term is defined in the rules and regulations promulgated under the Securities Act 1933. Additionally, one of the minority shareholders of the Company, Zenith Premier Limited, is also deemed to be a “promoter” of the Company.
