Preparing for an AGM
Having an AGM for the first time?
Can't remember what steps to follow at an AGM?
• After the first AGM, not more than 15 months shall elapse between the date of the next meeting and thereafter.
• Notice of the AGM shall be given to
• A copy of every balance sheet together with a copy of the directors report and the auditors report shall be sent to all members entitled to receive them 21 days before the AGM of the Company.
• If someone accidentally does not receive notice of the meeting- this shall not invalidate the meeting.
• No business can be transacted at an AGM unless there is a quorum of members present - this quorom should be mentioned in your Articles of Association
• Polls to be carried out at an AGM shall be decided by a show of hands.
• Where there is an equality of votes, the chairperson has the casting vote.
• At subsequent AGM's, one third of directors shall resign. Those who retire shall be those who have been longest in office. If there more than one-third of directors who have been in office for the same length of time, those retiring shall be decided by lot.
• A retiring director shall be eligible for re-election.
• The retiring director, if offering himself for re-election, shall be deemed to have been re-elected unless it is expressly resolved not to fill the vacated office or unless a vote for the re-election of this director has been put to the meeting and lost.
• No one, except the retiring director, will be eligible for election to the office of director unless there has been notice given to the office (not less than 3 days nor more than 21 days) from a member entitled to attend and vote at the meeting of their intention to propose another person for election. The person being proposed must also give notice in writing of their willingness to be elected.
• The company may decide by ordinary resolution to increase or reduce the number of directors
Can't remember what steps to follow at an AGM?
Here are some Pointers to take into account
• An AGM must be held within 18 months of original incorporation of company
• After the first AGM, not more than 15 months shall elapse between the date of the next meeting and thereafter.
• Notice of the AGM shall be given to
- Every Member• 21 days written notice must be given and must contain the date, time and place of meeting.
- The auditor of the Company
• A copy of every balance sheet together with a copy of the directors report and the auditors report shall be sent to all members entitled to receive them 21 days before the AGM of the Company.
• If someone accidentally does not receive notice of the meeting- this shall not invalidate the meeting.
• No business can be transacted at an AGM unless there is a quorum of members present - this quorom should be mentioned in your Articles of Association
• Polls to be carried out at an AGM shall be decided by a show of hands.
• Where there is an equality of votes, the chairperson has the casting vote.
Rotation of Directors
• At the first AGM, all directors shall retire from office.
• At subsequent AGM's, one third of directors shall resign. Those who retire shall be those who have been longest in office. If there more than one-third of directors who have been in office for the same length of time, those retiring shall be decided by lot.
• A retiring director shall be eligible for re-election.
• The retiring director, if offering himself for re-election, shall be deemed to have been re-elected unless it is expressly resolved not to fill the vacated office or unless a vote for the re-election of this director has been put to the meeting and lost.
• No one, except the retiring director, will be eligible for election to the office of director unless there has been notice given to the office (not less than 3 days nor more than 21 days) from a member entitled to attend and vote at the meeting of their intention to propose another person for election. The person being proposed must also give notice in writing of their willingness to be elected.
• The company may decide by ordinary resolution to increase or reduce the number of directors
Procedure at an AGM
• The following is the Agenda normally followed
- Chairpersons Report
- Managers Report
- Treasurers Report with presentation of accounts
- Election of New Directors
• Once the business of the AGM is concluded, an ordinary directors meeting may take place with the newly elected officials.
• Minutes of AGM plus audited accounts must be returned to the companies office.
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