Holdings19 Jan 2026 17:43
As I thought yesterday I got this from Google (not sure if AI generated, I am guessing it is)
Yes, a group of shareholders can absolutely request a general meeting, typically requiring at least 5% of voting rights (or sometimes fewer members if they hold significant capital) under the UK's Companies Act 2006; they can requisition the directors to call one, and if directors fail to act, the shareholders themselves can call the meeting and recover reasonable expenses from the company.
How it Works (UK Companies Act 2006):
Threshold: Shareholders holding at least 5% of the company's paid-up share capital with voting rights can require directors to call a general meeting (Section 303).
The Requisition:
It must be in writing and deposited at the company's registered office.
It must state the "objects" (purpose) of the meeting, meaning the resolutions they want to propose (e.g., removing directors, specific actions).
Director's Duty: Directors must call the meeting within 21 days of receiving the requisition, and the meeting must be held within 28 days of the notice being sent out.
Shareholder Action (If Directors Fail): If directors don't comply, the shareholders who made the request (or those representing over half the voting rights of all requisitionists) can call the meeting themselves.
Expenses: The company must reimburse the shareholders for their reasonable expenses in holding the meeting, and these costs can be deducted from directors' pay if they were in default, notes CMS LAW-NOW.
So the company registrars are Apex in Jersey, and have the same address as our registered office I believe. Confusingly our website says it is the address of Imaging Biometrics not IBAI.
Do we hold more than 5%? So far I know of 8m shares we need 12.5m. Not sure how many people have emailed in their amounts.
For the record I have been told Brett is out of the office until Thursday
Thanks
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