Angas, after resigning from the Association, offered to set up a company to buy up the remaining unsold land, which was agreed by the Colonisation Commissioners, so long as this new company, the South Australian Company, did not attempt to set up monopolies in the colony. The founding Board of Directors of the South Australian Company, established on 9 October 1835, were Angas as Chairman; Raikes Currie; Charles Hindley MP; James Hyde; Henry Kingscote; John Pirie, Alderman; Christopher Rawson; John Rundle MP; Thomas Smith; James Ruddell Todd; and Henry Waymouth; with Edmund John Wheeler (Manager); Samuel Stephens, (Colonial Manager); and Edward Hill (Secretary pro tem). The original purpose of the company was to help prospective colonists meet the obligations set out in the South Australia Act 1834. The United Kingdom did not want the "province" to be a financial burden, like other colonies, and imposed certain conditions through the Act. One of these conditions was the sale of real property (land) to the value of £35,000. Each director was required to buy at least £2,500 in shares in the company. The biggest sales in land carried out by the company were done in the names of Angas, who purchased 102 lots of land of on behalf of the company, which included prime real estate in both town and country, totalling , and with the right to rent an additional of pasturage (worth £40,000), and the Currie family, who purchased £9,000. Research published in 2018 and 2019 concluded that these sales and the creation of company, which secured the establishment of South Australia, link the colony's creation with slavery in the British West Indies. It was this purchase of land that enabled emigration to commence. It was purely a commercial venture, but without it, the colonisation plan would not have come to fruition. First Fleet of South Australia (1836) After a historic meeting at Exeter Hall on 30 June 1834, where the principles, objects, plan and prospects of the new Colony of South Australia were explained to the public, hundreds of enquiries from prospective emigrants arrived at the South Australian Association's headquarters in London. In January 1836 four ships sailed from England on behalf of the Company, ahead of the Colonisation Commission's planned expedition. They developed a settlement at Kingscote on Kangaroo Island, in July 1836, but when farming proved unviable, both the settlement and the Company's operations were moved to