An extraordinary general meeting (EGM) is a meeting of the members of a company or other organization that is called outside of the regular schedule of meetings. EGMs are typically called to discuss urgent matters that cannot wait until the next regular meeting.
The procedure for calling an EGM varies depending on the company's or organization's governing documents. In some cases, any member of the company or organization may call an EGM by submitting a written request to the board of directors. In other cases, only the board of directors or a certain percentage of shareholders may call an EGM.
Once an EGM has been called, the board of directors or the person who called the meeting must give notice to the members of the company or organization. The notice must state the date, time, and location of the meeting, as well as the agenda. In some cases, the notice must also include a copy of any proposed resolutions that will be voted on at the meeting.
At an EGM, the members of the company or organization can vote on any matter that is included on the agenda. The members can also vote to remove directors from office, to amend the company's or organization's governing documents, or to take other actions that are outside the scope of the company's or organization's regular business.
EGMs are an important part of corporate governance. They allow members of a company or organization to have a say in important decisions that affect the company or organization. EGMs can also be used to hold directors accountable for their actions.
Here are some of the most common reasons why an EGM might be called:
* To approve a major transaction, such as a merger or acquisition.
* To remove a director from office.
* To amend the company's articles of incorporation or bylaws.
* To vote on a change in the company's management.
* To discuss a financial crisis or other urgent matter.
If you are a member of a company or organization, you should be aware of your rights to attend and participate in EGMs. You should also be aware of the procedures for calling an EGM and the notice requirements. If you have any questions about EGMs, you should consult with an attorney.
13 сен 2024
