Difference between revisions of "Spera Bank February 2020 Board Meeting"

From Republic of Texas
(Issues: added links to past board meetings)
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= Issues =
 
= Issues =
 
'''Issue 1''': Confirmation of the Results and Outcomes of the February 2020 Executive Committee
 
'''Issue 1''': Confirmation of the Results and Outcomes of the February 2020 Executive Committee
* Recognizing that the February 2020 Executive Committee will not conclude until the end of the month, this serves to confirm the existing progress, results, and outcomes, and implied acquiescence of any additional product. Specific concerns or reservations on any potential future product output must be registered with the Chair.
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* Recognizing that the [[Spera Bank February 2020 Executive Committee Meeting|February 2020 Executive Committee]] will not conclude until the end of the month, this serves to confirm the existing progress, results, and outcomes, and implied acquiescence of any additional product. Specific concerns or reservations on any potential future product output must be registered with the Chair.
 
* The options are to either approve or reject this measure.
 
* The options are to either approve or reject this measure.
 
'''Issue 2''': Opening of the Share Market to the World
 
'''Issue 2''': Opening of the Share Market to the World
* Pursuant to the December 2019 Board Meeting, the Board restricted access to the Share Market to individuals who are in possession of shares. This restriction was reconfirmed at the January 2020 Board Meeting. This resolution provides for opening the Market to all nations, except any nations subsequently restricted by ratification of the Executive Committee. Any restrictions by the Executive Committee may be appealed to the full Board at a regular session.
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* Pursuant to the [[Spera Bank December 2019 Board Meeting|December 2019 Board Meeting]], the Board restricted access to the Share Market to individuals who are in possession of shares. This restriction was reconfirmed at the [[Spera Bank January 2020 Board Meeting|January 2020 Board Meeting]]. This resolution provides for opening the Market to all nations, except any nations subsequently restricted by ratification of the Executive Committee. Any restrictions by the Executive Committee may be appealed to the full Board at a regular session.
 
* The options are to open access to the market or keep the market restrictions in place.
 
* The options are to open access to the market or keep the market restrictions in place.
 
'''Issue 3''': Modification of the Existing Share Price Cap
 
'''Issue 3''': Modification of the Existing Share Price Cap
* Pursuant to the January 2020 Board Meeting, the Board imposed a maximum price for transferring shares at a price of $750 per share. This resolution provides for maintaining, raising, or eliminating this share price cap altogether.
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* Pursuant to the [[Spera Bank January 2020 Board Meeting|January 2020 Board Meeting]], the Board imposed a maximum price for transferring shares at a price of $750 per share. This resolution provides for maintaining, raising, or eliminating this share price cap altogether.
 
* The options are to keep the share cap at $750 per share, raise it to $1000 per share, or remove the restrictions altogether.
 
* The options are to keep the share cap at $750 per share, raise it to $1000 per share, or remove the restrictions altogether.
 
'''Issue 4''': Creation of the Spera Bank Employee Union
 
'''Issue 4''': Creation of the Spera Bank Employee Union

Revision as of 19:14, 14 February 2020

The agenda for the Board Meeting is posted in advance of the meeting to offer Shareholders the opportunity to evaluate and take positions.

Issues

Issue 1: Confirmation of the Results and Outcomes of the February 2020 Executive Committee

  • Recognizing that the February 2020 Executive Committee will not conclude until the end of the month, this serves to confirm the existing progress, results, and outcomes, and implied acquiescence of any additional product. Specific concerns or reservations on any potential future product output must be registered with the Chair.
  • The options are to either approve or reject this measure.

Issue 2: Opening of the Share Market to the World

  • Pursuant to the December 2019 Board Meeting, the Board restricted access to the Share Market to individuals who are in possession of shares. This restriction was reconfirmed at the January 2020 Board Meeting. This resolution provides for opening the Market to all nations, except any nations subsequently restricted by ratification of the Executive Committee. Any restrictions by the Executive Committee may be appealed to the full Board at a regular session.
  • The options are to open access to the market or keep the market restrictions in place.

Issue 3: Modification of the Existing Share Price Cap

  • Pursuant to the January 2020 Board Meeting, the Board imposed a maximum price for transferring shares at a price of $750 per share. This resolution provides for maintaining, raising, or eliminating this share price cap altogether.
  • The options are to keep the share cap at $750 per share, raise it to $1000 per share, or remove the restrictions altogether.

Issue 4: Creation of the Spera Bank Employee Union

  • In an effort to create a more enduring means of ensuring salaries, Spera Bank has created a separate entity, the Spera Bank Employee Union, to handle non-executive staff salaries and compensation. Any shareholder who is banned or voluntarily leaves the game, or is inactive for at least 14 days without advanced warning (excluding vacation mode), voluntarily surrenders their shares to this Union. The Union will receive from the Bank, 5% of the Bank's profits each month. The Union is permitted to invest externally. The Steering Committee will oversee the management of this Union, and may delegate the functions to a single individual or outsource the management to a third-party entity. As the Union is a shareholder, its ballots cast will follow that of the Deputy Chair.
  • The options are to either approve or reject this measure.

Issue 5: Implementation of Required Steps to Sell the Additional 5 million Shares

  • This measure sets forth the implementation, by simply majority of cast votes, of the recommended course of action on the 5 million shares. Adopting this measure also adopts the restrictions on amending the measure, as also outlined in the recommendation by the Executive Committee.
  • The options are to either approve or reject this measure.

Issue 6: Renaming the Core Functional Bodies of Governance

  • In an effort to clarify and improve communication, this measure moves to rename the following bodies: Steering Committee will be renamed to (Board of) Trustees, Executive Committee will be renamed to Leadership Committee, and Senior Executive Leadership Committee will be renamed to Senior Management (Team). No powers or authority will be changed. This simply aims to reduce overlapping terminology.
  • The options are to either approve or reject this measure.

Issue 7: Confirm @Lucianus/158504 to the Steering Committee for the March 2020 Term

  • This individual has served on both the January 2020 and February 2020 Steering Committees. They are standing to be re-appointed to the March 2020 Steering Committee.
  • The options are either to confirm or reject their reappointment.

Issue 8: Confirm @SMP Naruu/29685 to the Steering Committee for the March 2020 Term

  • This individual has served on both the January 2020 and February 2020 Steering Committees. They are standing to be re-appointed to the March 2020 Steering Committee.
  • The options are either to confirm or reject their reappointment.

Issue 9: Confirm @Cosimo de Medici/184588 to the Steering Committee for the March 2020 Term

  • This individual has served on both the January 2020 and February 2020 Steering Committees. They are standing to be re-appointed to the March 2020 Steering Committee.
  • The options are either to confirm or reject their reappointment.

Issue 10: Confirm @Sidd/184908 to the Steering Committee for the March 2020 Term

  • Since before the first Board's meeting, Sidd has been a diligent member of our shareholder community, even going so far as to receive mention in Jan 2020's Issue 9 and Feb 2020's Issue 7. He has experience and is currently a member of staff in another bank. In his own words: "I would like to help the bank increase its profits so each and every shareholder regardless of their investment enjoy being a part of spera. And i would like to see spera grow in the business sector of orbis" They are standing to be appointed to the March 2020 Steering Committee.
  • The options are either to confirm or reject their reappointment.

Vote Tally

Issue Description Yay Nay Result Participation
Issue 1 Approving the EC Outcomes
Issue 2 Opening share market
Issue 3 Share price cap
Issue 4 Spera Bank Employee Union
Issue 5 How to sell 5m shares
Issue 6 Renaming SC, EC, & SELT
Issue 7 Confirm Lucianus/158504 to SC
Issue 8 Confirm SMP Naruu/29685 to SC
Issue 9 Confirm Cosimo de Medici/184588 to SC
Issue 10 Confirm Sidd/184908 to SC