Table of Contents
What is a company General Meeting?
The General Meeting is the Company’s highest decision-making body, at which the shareholders exercise their voting rights. At the General Meeting decisions are taken regarding matters such as the annual accounts, dividend, election of the Board of Directors and auditor and remuneration to Board members and auditor.
What do you mean by AGM?
annual general meeting
Key Takeaways. An annual general meeting (AGM) is the yearly gathering of a company’s interested shareholders. At an annual general meeting (AGM), directors of the company present the company’s financial performance and shareholders vote on the issues at hand.
WHO calls an extra ordinary General Meeting?
According to Article 14 of the Company’s Charter and the Procedure for Preparing and Holding a General Meeting of shareholders of FGC UES, a shareholder or shareholders who own at least 10 percent of the Company’s voting shares shall be entitled to demand calling an Extraordinary General Meeting of shareholders ( …
What is an ordinary meeting?
An ordinary meeting is one which is usually held regularly and has no special requirements dictated by either legislation (like the Associations Incorporation Act) or rules or constitutions of organisations or by-laws etc. For instance, a regular monthly meeting of an organisation is an ordinary meeting.
Who is entitled to annual general meeting?
The members (including shareholders) of the company are entitled to attend and vote at the AGM. Members can cast their votes by a physical ballot or postal ballot or through e-voting. Members can appoint proxies to attend an AGM and vote on their behalf.
What is difference between general meeting and annual general meeting?
Another difference between an annual general meeting and an extraordinary general meeting is that an annual general meeting can only be held during business hours and not on a national holiday, while an EGM can be carried out on any day including holidays.
What are the objectives of Annual General Meeting?
The purpose of the Annual General Meeting is to ensure full compliance with all the independent statutory requirements such as preparation and presentation of a company’s financial reports, auditor/auditors’ appointment, the election of a board of directors, and so on.
What happens during an AGM?
What happens at an annual general meeting? During an AGM, a company’s performance is analysed and its future strategy is discussed. Votes can also be held during an AGM, allowing shareholders to vote on company decisions, and fill any vacant positions on the board of directors.
How do you call an extraordinary general meeting?
An extraordinary general meeting can be called by either a:
- committee member (if approved by the majority of voting committee members)
- written request signed by at least 25% of lot owners or their representatives.
- person authorised by an adjudicator’s order.
What is section of extraordinary general meeting?
Sub-section (1) of section 100 empowers the board of directors to call extraordinary general meeting as and when it is deemed necessary. The board may call such extraordinary meeting depending upon the exigencies of the conduct of the business of the company.
What is the difference between a General Meeting and a special General Meeting?
The word “general” in the AGM means that anybody who is a member of the organisation is entitled to attend and vote in most cases. The Special General Meeting (SGM) is sometimes called an Extraordinary General Meeting (EGM). Special General Meetings must have a specific purpose.
What is the difference between an AGM and a General Meeting?
An Annual General Meeting (AGM) is the general meeting which must be held by the company every year, to discuss various business matters. An Extraordinary General Meeting (EGM) is any meeting other than the AGM in which business relating to company’s management are transacted.