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)
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