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Article 75 precludes members from collectively, or individually demanding an AGM is held.
That however does not preclude them from requesting one, though the BoD are not in any way obliged to accede to that request.
There are a couple of points that should be noted were an AGM to be convened, and collectively be backed through at least 10% of the paid up shareholders.
1) Representation must be “in person” at the meeting whether a representative has been given proxy to vote on behalf of that 10%.
2) and even more critically, I would respectfully suggest that we are cognisant of article 86, and call for the vote to be determined by means of a poll.
Failure to do so would mean that it would be conducted by a show of hands, and each person present, irrespective of the shareholding that they may be proxy to will only have a singular vote.
i.e. if the tea lady was present and only had one share, and the janitor was also there and he only had two shares, and they voted against our proxy’s voting block vote, then the tea lady’s and janitor’s votes would win, even though in total their shareholding was only 3 shares against our proxy’s circa 1.8 Billion block of shares.
Having said the above, it would be folly to forget the volume of shares that the BoD currently hold, so even in a poll we would be unlikely to win, but never the less it is a deterrent to us being railroaded in the same way a show of hands would certainly do.
It offers no guarantee of success, but it certainly better levels out the playing field.
IMHO
Even if we were able to force the company to hold an AGM, which I doubt as they probably wouldn’t acknowledge the request, they certainly wouldn’t hold it in the UK.
Do we need to take legal advice as a group? I have no knowledge whatsoever of how these thinks work but if that is the only way forward happy to help in anyway I can!
Cuprinol kind of way lol, I always thought it was Ronseal!
I did mention this previously, enough investors can legally force an AGM.
If the group represents over 5% of total holding (If not AGM in the past 12 months) (10% if within 12 months)
Pretty sure that's doable, need the Frontera Group to message YJ and say we want an AGM.
We represent over 5% of the total share holding and it is legally bound that they comply to the request.
Credibility and Rainbow are two word that clearly should not be mentioned in the same sentence.
This is the guy that read a few positive posts on here, filtered anyone who warned of any issues, and then lumped his pension pot into buying 20m shares (allegedly) As most credible people do....
This company is in a extremely precarious position, it’s not a grand master plan by Zaza and I give a 5 percent chance of seeing any of our hard earned again.
Time to wake up and smell that millionaire latte and stop spouting utter garbage day in day out.
Saying look at this bad thing happening does not excuse another bad thing. Be thankful the conservatives are in because if this came good under labor, corbyn&co would of been reaching deep into your pockets to pay for the gulags
credibility also rainbow.
Seriously RR, is that the depth of your response ?!
You really need to take those rose tinted spectacles off if you cannot even grasp the context.
The Articles of Association are there to protect us as shareholders.
It is a guarantee that they will operate in a Cuprinol way, and do what it says on the can.
It is the backbone of the way that the directors of the company, who we as shareholders pay for and have the right to vote onto the board or off of the board (not individually, but collectively), and it is the written obligation from the board as to the manner that the company will be run.
It is there so as to ensure that directors cannot please themselves, and do whatever they damned well like without recourse to law.
It is as much there to protect us as shareholders as it is there to govern how the company must conduct business.
I knew this was coming, eh !
Ha ha !
OMG, will you just look at what the Conservative Party is doing to our country ?
Zaza, not having an AGM, in the current climate, is hardly any cause for concern.