EGM

[boomback]

When enough shareholders have requested an EGM how long does the company have to reply about setting a date for the meeting

[Free Lance]

Once the directors of the company have received the relevant request from the minimum number of shareholders then they have 21 days to call the EGM. The meeting cannot be held more than 28 days after the date of the notice calling the meeting.

Section 304 Companies Act 2006

[boomback]

Thanks ......

[boomback]

What happens if they didnt comply and havent sent something out within 21 days - and is that business days?

[Free Lance]

If the directors do not call the meeting as required by the requisition from the members then the members can call the meeting themselves. Section 305 Companies Act 2006. The members can get paid their reasonable costs of doing so from the company. There are time limits again. Google the section.

It is not business days - so weekends and bank holidays are included. However, without looking at it in detail it is probably 'clear days', at least for the purposes of calling the meeting. Clear days exclude the date the notice was sent and the date of the meeting. I would err on the side of caution and assume it is always clear days.

Also check what the articles say, sometimes they assume notices are received, say, 2 business days after sending. It sometimes makes a difference on timetabling.

You can also do the same thing as requisition a meeting but for written resolutions. If you know you have enough votes to get the resolutions you want passed then it might be easier to go down that route (unless you are dismissing a director under section 168 of the CA 2006 - that requires a meeting). Worth spending a few hundred quid with a solicitor?

[mahutchinson]

I would always go for clear days and then add a bit more on for good luck. It avoids problems with post etc.