ANSWERS: 1
  • A general meeting takes place usually once in year, it is then the "annual general meeting" (AGM). In extraordinary, serious or urgent circumstances, an "Extraordinary General Meeting" (EGM) will be called. It occurs then at an irregular time. 1) "An annual general meeting (commonly abbreviated as AGM, also known as the annual meeting) is a meeting that official bodies, and associations involving the public (including companies with shareholders), are often required by law (or the constitution, charter etc. governing the body) to hold. An AGM is generally held every year to inform their members of previous and future activities. In organizations run by volunteers or a paid committee, the AGM is generally the forum for the election of officers or directors for the organization. It is an opportunity for the shareholders and partners to receive copies of the company's accounts as well as reviewing fiscal information for the past year and asking any questions regarding the decisions the business will take in the future. In Great Britain it became optional with effect from 1 October 2007 for any private company to hold an AGM, unless its articles of association specifically require it to do so." Source and further information: http://en.wikipedia.org/wiki/Annual_general_meeting 2) "An Extraordinary General Meeting, commonly abbreviated as EGM, is a meeting of members of an organisation, shareholders of a company, or employees of an official body, which occurs at an irregular time. The term is usually used where the group would ordinarily hold an AGM, but where an issue arises which requires the input of the entire membership and is too serious or urgent to wait until the next AGM. In some settings, this is known as a Special General Meeting or an Emergency General Meeting. The directors of a public company must convene an EGM if the net assets fall to half or less of the amount of its called-up share capital (s142 CA 1985) Within 21 days from the date of receipt of requisition the directors must send out a notice in order to convene a meeting within 28 days after the date of giving the notice." Source and further information: http://en.wikipedia.org/wiki/Extraordinary_General_Meeting

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