DTP Ltd is a public company limited by shares with issued share capital CY￡1,000,000 divided into 1,000,000 shares of CY￡1 each. Eric, Fred and George are the major shareholders of DTP Ltd, with each one holding 250,000 shares. Dorothy and Cindy are partners in an auditors’ firm, called DC & Co. DC & Co have been appointed auditors of DTP Ltd by the board of directors before the first annual general meeting of DTP Ltd. Eric wishes to remove DC & Co from office and appoint different auditors. Fred agrees that DC & Co should be replaced, but George does not. Cindy has recently married the managing director of DTP Ltd.Required:Advise Eric as to the steps he needs to take to achieve the removal of DC & Co as auditors of DTP Ltd. (10 marks)
