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Sir these are the exact words extracted from BPP textbook.
“Re-registering as a public company. The shareholders must agree to the company going public. Convene a general meeting. Pass a special resolution (75% majority) – Alters the constitution.”
“Re-registering as a private company. The shareholders must agree to the company going private. Convene a general meeting. Pass a special resolution (75% majority of those present and voting) – Alters the constitution.”
What’s the difference between 75% majority, with 75% majority of those present and voting, sir?
Thank you
None – a special resolution is a resolution that is passed by a majority of not less than 75% of the members that are entitled to vote and who do vote at a general meeting of which not less than 14 days’ notice has been given specifying the intention to propose the resolution as a special resolution (if it’s an annual general meeting, that notice period for the meeting is 21 days)
OK?
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