ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII) Files An 8-K Material Modification to Rights of Security HoldersITEM 3.03 Material Modification to Rights of Security Holders
On October 3, 2017, the Board of Directors of ROI Land Investments Ltd. (the “Company”) authorized the re-issuance of the 100,000 shares of Series A Preferred Stock previously re-acquired by the Company from Dr. Sami Chaouch on May 18, 2017, to Mr. Martin Scholz, the Company’s Chief Executive Officer. As previously reported in the Company’s Form 8-K, dated May 9, 2016, the Series A Preferred Stock is identical to the Class A common stock of the Company, except that each share of the 100,000 Series A Preferred Stock has 150 votes per share instead of the one vote per share of the Class A Common.
ITEM 5.02 Departure of Directors or certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 3, 2017, Sebastien Cliche was removed from his office as President of the Company. In addition, Mr. Cliche was removed from serving as an officer and/or director of all of the Company’s subsidiaries. Mr. Cliche continues to serve as a director of the Company. The Company has not named a new President.
About ROI LAND INVESTMENTS LTD. (OTCMKTS:ROII)
ROI Land Investments Ltd. is a land development company that owns and operates businesses in the land development industry. The Company’s business model consists of acquiring land free of zoning restrictions, obtaining the necessary permits, outsourcing developments of the infrastructure and profiting from the sale of the subdivided land units to established residential and commercial building developers. Its real estate projects in development include Beauport, Quebec City; Terrace, British Columbia; Kitimat, British Columbia; Louisette, France; Evans, Colorado, and Sobha Hartland, Dubai. It owns approximately three properties in Terrace. The Evans project features a mix of housing units, including single family homes, town homes, duplexes and condos. The Sobha Hartland project features three, eight-story buildings for a total of approximately 300 units. Each building offers Dubai residents with a range of housing options.