Extraordinary General Meeting
- Extraordinary General Meeting
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.
Examples
Special General Meeting:
* Faculty of Actuaries#Establishment of the Faculty of Actuaries
* Simon Fraser Student Society#Impeachment
* Institution of Engineering and Technology#Formation
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extraordinary general meeting — (EGM) Any meeting of the shareholders other than an annual general meeting. The length of notice depends on the nature of the resolutions being put to the meeting. Easyform Glossary of Law Terms. UK law terms … Law dictionary
extraordinary general meeting — UK US noun [countable] [singular extraordinary general meeting plural extraordinary general meetings] business an egm Thesaurus: official meetings and conferences … Useful english dictionary
extraordinary general meeting — ( EGM) Euroclear Clearing and Settlement glossary Meeting other than the annual general meeting between a company s shareholders, executives and any other members. An EGM is usually called on short notice and deals with an urgent matter.… … Financial and business terms
Extraordinary General Meeting — Ad hoc shareholders meetings held by a company for a specific purpose, such as to approve a major transaction. Fourteen days notice must be given of such a meeting, if only ordinary resolutions are to be discussed. If a special resolution is to… … Financial and business terms
extraordinary general meeting — UK / US noun [countable] Word forms extraordinary general meeting : singular extraordinary general meeting plural extraordinary general meetings business an EGM … English dictionary
Extraordinary General Meeting — /ɪkˌstrɔ:d(ə)n(ə)ri ˌdʒen(ə)rəl mi:tɪŋ/ noun a special meeting of shareholders to discuss an important matter (such as a change in the company’s articles of association) which cannot wait until the next AGM ● to call an Extraordinary General… … Dictionary of banking and finance
extraordinary general meeting — EGM Any general meeting of a company other than the annual general meeting. Most company s articles give the directors the right to call an EGM whenever they wish. Members have the right to requisition an EGM if they hold not less than 10% of the … Accounting dictionary
extraordinary general meeting — EGM Any general meeting of a company other than the annual general meeting Most company s articles give the directors the right to call an EGM whenever they wish. Members have the right to requisition an EGM if they hold not less than 10% of the… … Big dictionary of business and management
extraordinary general meeting — (EGM) Meeting other than the annual general meeting between a company s shareholders, executives and any other members. An EGM is usually called on short notice and deals with an urgent matter … Euroclear glossary
extraordinary general meeting — noun a general meeting which is not part of the normal schedule of general meetings, but called especially for some purpose. Abbrev.: EGM …
