To Michelex Shareholders: Notification sent to Messrs. Lacle, Syed and Saleem
Yesterday, Venkat Kakani, as Treasurer of Michelex, and I, as a shareholder of Michelex, sent letters to Messrs. Lacle, Syed and Saleem via certified mail. Each letter was personalized. A copy of each individual letter was also sent via email.
Albert Lacle President, Michelex Corporation c/o Key Management Group 199 New Road, Suite55 Linwood, New Jersey 08221
Dear Mr. Lacle:
You are hereby advised that you have been removed as a Director of Michelex Corporation (the “Company”). This action was taken pursuant to the written consent of shareholders holding a majority of the voting power of the Company dated January 20, 2012, and in accordance with Utah law. Please be advised that you have also been removed as an Officer of the Company. You should not take any actions on behalf of the Company. The Company and its shareholders will hold you responsible for any negligent or willful act taken by you on behalf of the Company.
Furthermore, we demand that you transfer all assets of the Company over which you currently have dominion or control to the Treasurer of the Company, Venkat Kakani. Such assets include, but are not limited to, the $13,505,500 in assets held by United Mortgage Bankers, LTD that were certified by Mr. Midhat Syed and which the Company was supposed to receive pursuant to the May 17, 2010 Stock Purchase Agreement, along with all financial records and documents, including, but not limited to, the names, addresses, phone numbers and contact persons of all banks, trust companies, savings and loan associations and other financial institutions at which either the Company or its subsidiaries maintain a safe deposit box, lock box or checking, savings, custodial or other account of any nature, the type and number of each such account and the signatories therefore, a description of any compensating balance arrangements, and the names of all persons authorized to draw thereon, make withdrawals there from or have access thereto, and the balances of such accounts as of January 20th, 2012 and certify that all records and other documentation relating to such accounts is true, complete and accurate as of the date thereof.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.