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Hi sir
The question is:What is the latest date that a public company, incorporated on 1 May 2010, could hold its 2nd annual general meeting?
A. 31 October 2011
B. 30 April 2012
C. 31 January 2013
D. 31 December 2012The answer is D and i don’t understand why. Please may you help me with rhis?
Thanks.1st AGM within 18 months of incorporation gets us to 31 October, 2011
2nd AGM no more than 15 months after that gets us to 31 January, 2013
BUT there shall be an AGM once in every (calendar) year (Gibson v Barton) and, if we allowed that 15 month gap, there would be no AGM in 2012
So 31 December, 2012 is the correct answer
OK?
But when I was doing practice questions, a frequently asked question was when a plc would have an AGM and the answer was 15 months, so why is it that the 1st AGM occurs after 18 months and not 15 months? Is it because of the recent incorporation? If this is the case,then is it that the 1st AGM would me within 18 months and the rest of the AGMs that follow would be no more than every 15 months?
I greatly appreciate your help 😀
“If this is the case,then is it that the 1st AGM would me within 18 months and the rest of the AGMs that follow would be no more than every 15 months?”
This is correct.
Have you read the free course notes on meetings and resolutions? It’s clearly in there that the first AGM shall be within 18 months of incorporation!
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