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EGM Postponed


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24 replies to this topic

#21 Griff

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Posted 04 July 2013 - 04:42 PM

Tonights Mail states that the directors encourage all members to obtain a copy of the draft Articles from the Rugby Shop and formally submit any comments or concerns to the company secretary by 31st July.


They should be sending them to members along with a proper agenda and notice of meeting.
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#22 atp

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Posted 04 July 2013 - 04:51 PM

Should the balance sheet/financial report be made available also?

#23 Michael Ashton

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Posted 04 July 2013 - 07:07 PM

Good point Soss. It seemed to me to be an EGM & AGM combined therefore I agree why could the AGM not carry on and an EGM called later specifically to consider the Articles.

 

As far as notifying debenture holders is concerned I know from experience It would be an impossible job. Some debentures have been held for many years and the holders may either be dead or at a different address. According to the Articles debenture holders should be notified in writing and a copy of the accounts attached to the notice.

 

It should also be mentioned that until 2011 only 20 or so people attended and it was a pointless exercise to contact members other than by a press notice. According to both the Articles and draft Articles the accounts are to be made available to any debenture holder on request within 7 days of the AGM.


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#24 Griff

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Posted 05 July 2013 - 12:36 PM

Should the balance sheet/financial report be made available also?


Not at an EGM. That's AGM business.
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#25 Griff

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Posted 05 July 2013 - 12:41 PM

As far as notifying debenture holders is concerned I know from experience It would be an impossible job. Some debentures have been held for many years and the holders may either be dead or at a different address. According to the Articles debenture holders should be notified in writing and a copy of the accounts attached to the notice.


The directors merely have an obligation to write to the registered debenture holders at their registered address, including full details of the resolutions (which would include the new articles), proper notice and the procedure for voting by proxy.

Which seems very reasonable to me.

It's the debenture holder's responsibility to notify the club of changes of address. If they die, then it's up to their personal representatives to notify the club of that. Somebody owns that dead person's debenture. It doesn't just disappear.
"We'll sell you a seat .... but you'll only need the edge of it!"