A extraordinary general meeting , commonly abbreviated to EGMS , is a meeting of members of the organization, shareholders of the company, or employees of official bodies that occurred at irregular times. This term is usually used where a group will usually hold an annual general meeting (AGM) but where problems arise that require input from all members and are too serious or urgent to wait until the next GMS. Members and/or shareholders shall be informed of the purpose of the EGMS so that they may be present in a position where they may discuss and use intelligent judgment, or if no invalid resolution is valid.
Procedure: Before the EGMS, the board of the organization will approve one or more resolutions to be given to shareholders or members for approval at the EGM. The words of resolution are sent to shareholders with a note of importance. The theory is that the council has a better knowledge of the situation, and the resolution applies their ideal solution, but may not be for the benefit of individual shareholders. Typically, the EGM chairman reads and recommends resolutions to those present for approval, taking questions about the resolutions of those present, watching the votes and declaring the results. Rules for conducting EGMS and options for changing resolutions at EGMs or for proxy voting will vary from one organization to another.
In some settings, this is known as a special general meeting or an emergency general meeting.
In Britain, directors of public companies must hold an EGM if net assets decrease to half or less of the so-called share capital (section 656 of the Companies Act 2006). Shareholders meeting certain criteria may request a general meeting: within 21 days from the date of receipt of the request, the director must send a notification to convene the meeting within 28 days after the date of notification.
Video Extraordinary general meeting
Example
Specific public meetings:
- Faculty Actuary # Formation of Actuary Faculty
- Simon Fraser Student Society # Impeachment
- Engineering and Technology Institution # Formation
Maps Extraordinary general meeting
See also
- Duomatic principle
References
Source of the article : Wikipedia
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