Coaching and Practice in Tax Audit Law
4429 Points
Joined June 2018
A company’s Articles of Association can set any length of notice required for a General Meeting of its shareholders, but by Section 307 of the Companies Act 2006, notice must be at least 21 days for an AGM (for public companies only – private companies are not required to hold AGMs unless specified in the Articles of Association), or 14 days for other General Meetings - unless shareholders agree to a shorter notice period.
If a General Meeting is to be convened and held at shorter notice than the statutory period (or the period set out in the Articles) a consent form must be signed by shareholders holding at least 90% of the nominal value of shares giving a right to vote at such General Meeting (or a higher percentage specified in the company’s Articles, but not exceeding 95%) in the case of private companies. For public companies, the required percentage is 95% but short notice for AGMs can only be agreed unanimously.