Management Company's AGM

Macers

Hi,

I done a quick search however the only thread seemingly related is closed.

Our property management company has called our AGM. However it has been called at 12pm on a Wednesday (which everyone feels is ridiculous as we will all be in work).

The quorum required to hold an AGM is what figure exactly?

Your help is appreciated.

Thoie

That will be outlined in the company memo & arts - which you can get from the CRO (for a small fee) if you don't already have it. It varies from company to company.

Paulw

If you get a quorum together, you can demand an EGM to be held on a date and time of your own choosing.

It does seem crazy to hold a management company AGM during office hours though.

Lantus

The ODCE says this about AGM's in relation to cmpany law: -

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[24.05] [/FONT][/FONT][/FONT][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]Secondly, as with all their other powers, the directors of a management company must exercise this discretion mindful of their duty to act in good faith and in
the interests of the company as a whole.[[/FONT][/FONT][/FONT][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]382] [/FONT][/FONT][/FONT][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]Accordingly, in the view of the ODCE, directors should aim to arrange AGMs so that they can be held at locations and times which, in all the circumstances, are likely to be reasonably convenient for as many as possible of the members of the company who may wish to attend the AGM.[[/FONT][/FONT][/FONT][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]383][/FONT][/FONT][/FONT]
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[FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]The directors should also of provided 21 days notice and a copy of the budget to be approved. I would contact the directors ASAP advising that the timing is not suitable and asking them to change it. If you can get a lot of names to support you more the better.[/FONT][/FONT][/FONT]
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[FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]The CRO will have the articles of association which you can get for a few quid. This will specify the minimum number of people needed to get a quorum. If the development has properties owned by the developer or directors still by the develop then beware. This could be a ruse to approve a dodgy budget voted in by their mates.[/FONT][/FONT][/FONT]
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[FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]To be honest it's pretty stupid.[/FONT][/FONT][/FONT]
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[FONT=Z@R3C.tmp][FONT=Z@R3C.tmp][FONT=Z@R3C.tmp]As a last recourse you could also make a compliant through the ODCE but this will probably not stop the AGM happening.

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athtrasna

I know a lot of developments where AGMs are held in the middle of the day, tends to be developments with issues! Can you nominate a proxy, someone you can brief on the issues and who you authorise to vote on your behalf knowing your position?