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Old Feb 19, 2020 | 3:40 am
  #21  
Raffles
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Originally Posted by Blumie
Where do you get this from?
"If a company has only one shareholder, the quorum for a shareholder's meeting is one. Otherwise, quorum requirements are regulated by the company's articles, with the default being two. Written resolutions must be signed by all shareholders and the procedure is available only to private companies. Shareholder resolutions may be proposed as ordinary resolutions (which require a simple majority to pass) or special resolutions (which require a supermajority of 75% to pass). In both cases, whether the approved threshold is met will be determined by reference to shareholders actually present and voting, in person or by proxy. Shareholder meetings may be conducted on a show of hands (where each shareholder gets one vote) or on a poll (where each shareholder has the number of votes equal to the number of shares he holds which carry the right to vote). Where a vote is conducted on a show of hands, a shareholders holding 10% of the voting rights may demand a poll. For listed companies, voting would be by way of a poll."

And

"
What decisions require a special resolution to be passed?
1. To change the company name
2. To amend the company’s articles of association
3. A reduction in the company’s share capital
4. Disapplication of shareholder pre-emption rights
5. Certain cases where the company purchases its own shares
6. Changing the company’s status by registration, for example:
7. Winding up of the company voluntarily (or by the court)

In addition, the company’s Articles of Association can also specify other transactions where special resolutions are required – such a provision may be included in the company’s Articles where the shareholders want an extra level of protection against certain decisions being taken rashly."
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