Part 13Resolutions and meetings
Chapter 4Public companies and traded companies: additional requirements for AGMs
F1338ATraded companies: members' power to include other matters in business dealt with at AGM
(1)
The members of a traded company may request the company to include in the business to be dealt with at an annual general meeting any matter (other than a proposed resolution) which may properly be included in the business.
(2)
A matter may properly be included in the business at an annual general meeting unless –
(a)
it is defamatory of any person, or
(b)
it is frivolous or vexatious.
(3)
A company is required to include such a matter once it has received requests that it do so from—
(a)
members representing at least 5% of the total voting rights of all the members who have a right to vote at the meeting, or
(b)
at least 100 members who have a right to vote at the meeting and hold shares in the company on which there has been paid up an average sum, per member, of at least £100.
See also section 153 (exercise of rights where shares held on behalf of others).
(4)
A request—
(a)
may be in hard copy form or in electronic form,
(b)
must identify the matter to be included in the business,
(c)
must be accompanied by a statement setting out the grounds for the request, and
(d)
must be authenticated by the person or persons making it.
(5)
A request must be received by the company not later than—
(a)
6 weeks before the meeting, or
(b)
if later, the time at which notice is given of the meeting.