• Home
• About the Practice
• Directions
• News Updates

Some changes to the way in which shareholders' meetings are conducted take effect today. Most significantly, shareholders with 5% of the voting rights in a company may request the directors to call a shareholders' meeting. Previously, the relevant percentage threshold was 10%.

There is a clarification of the right of a proxy to vote on a show of hands. If a proxy acts for two shareholders who have asked him to vote in different ways, he has two votes on a show of hands - one for and one against. Proxies have a statutory duty to vote in accordance with the instructions of the shareholders whom they represent.

A few changes apply only to quoted companies, including the obligation on the directors to answer questions relevant to the business of the meeting.

3 August 2009