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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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An EGM has been called for our residents association Company.

Resolved Question:

An EGM has been called for our residents association Company. There are 19 shareholders each having one vote. The purpose of the EGM is to consider a change to the Company's Managing Agent. A simple question therefore:- If the Managing Agent has gathered a number of general proxy votes, is he allowed to cast them in his own favour or is he prohibited from voting because of his personal interest in the outcome?

Thanks.
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

The Managing Agent is allowed to cast the votes in their favour, this is perfectly fine as the shareholders are simply delegating the proxy to vote for the shareholders.

The Managing Agents should vote in accordance with any instructions given by the shareholders e.g. the shareholders may say vote as you like, or vote against the current Managing Agent or vote in their favour and the proxy votes accordingly.

Hope this helps
Customer: replied 3 years ago.

Not what I wanted to hear ... but "Thanks" so far. In our situation, (an EGM) does the proxy (The Managing Agent) have to obtain specific proxies both as regards XXXXX XXXXX and the purpose of the vote? If not, how long does a general proxy - obtained initially for use at repeated AGMs - actually last for? Is it everlasting or would it expire after a certain time if no specific expiry date is stated?

Expert:  UKSolicitorJA replied 3 years ago.
The form of proxy usually covers only the one off specified meeting, it does not last forever.

e.g. see this proxy form

http://www.graftonplc.com/downloads/pdfs/proxy_meeting_form.pdf

You should look at your Company's Articles of Association as well to see if there are any provisions relating to proxy votes at meetings.

All the best
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