DKR Ltd is a holding company with investments in Russia. The memorandum of association of DKR Ltd provides that the company may only invest in Russia. Dan is the sole director of DKR Ltd and has signed an agreement on behalf of DKR Ltd for the purchase of immoveable property in Ukraine. Dan further contemplates entering into future investments on behalf of DKR Ltd in other European countries.Required:Advise Dan as to the legal effect of his action and the consequences for his proposed future investments. (10 marks)
