It is the responsibility of the directors of a

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they wish or if members request for it. It is the responsibility of the directors of a company to convene an AGM. However, members accounting for at least 10% of the shares or membership have a right to demand it. A request in the first instance would be made to the Board of directors who must convene the meeting within 21 days. If the directors fail to call the meeting, the members concerned may themselves convene it at the company’s expense – s. 303 305 CA 2006. Matters to be discussed at the AGM include: a) The company’s annual audited account b) The directors’ and auditors’ annual report c) The election and re-election of directors d) The appointment and re-appointment of auditors e) The payment of directors’ and auditors’ fees f) Such businesses as proposed by the directors or members. Download free eBooks at bookboon.com Click on the ad to read more We do not reinvent the wheel we reinvent light. Fascinating lighting offers an infinite spectrum of possibilities: Innovative technologies and new markets provide both opportunities and challenges. An environment in which your expertise is in high demand. Enjoy the supportive working atmosphere within our global group and benefit from international career paths. Implement sustainable ideas in close cooperation with other specialists and contribute to influencing our future. Come and join us in reinventing light every day. Light is OSRAM
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BUSINESS ORGANISATIONS AND AGENCY 404 COMPANY MEMBERS 22.4.2 THE EXTRA-ORDINARY GENERAL MEETING Any general meeting of a company other than the Annual General Meeting is called Extraordinary General Meeting (EGM). An EGM may be convened when: a) The Board of Directors consider it necessary. They must, however in good faith and in the interest of the company as a whole. b) In the case of public company, its assets fall to half or below half of its called-up capital. c) Members of a company holding 10% or more of the paid-up shares or voting rights demand the meeting. If the directors fail to convene the meeting within 21 days, the members concerned may convene it themselves. 22.4.3 GENERAL MEETING ORDERED BY COURT A court may, on the application of a director or member of a company, order the holding of a general meeting when it is impracticable to convene or hold the meeting in the normal way – s. 306 CA 2006. Such a meeting may be ordered, for example, where minority member(s) who are also directors refuse to sanction the convening of a general meeting in order to prevent decisions unfavourable to them from being taken, or where they refuse to attend the meeting in order to deny it of the necessary quorum. When ordering the meeting, the court will give the necessary directions as to its conduct and quorum. Such a meeting will usually be regarded as an EGM.
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