Problem
Jack and Josephine are majority shareholders and the only directors of Waterflow Limited a company incorporated under --the •Companies Act 2004. The company has recently made huge profits by hiring water tankers to two large water companies in St. Elizabeth to transport water to alleviate problems caused by lack of rain. Jack and Josephine proposed at the board meeting that the directors award themselves a massive pay rise, which would have the effect of taking their monthly salary from $400,000 to $800,000.
Advise Mark a minority shareholder who intends tochallenge the validity of the directors' action in court.