Yes all the directors are shareholders, leaseholders and residents, just like all the rest of us.
The current directors were elected in November 2013 at an AGM. The Year Ending was then changed, so we had another AGM in April 2015, but the re-election of directors was not an agenda item. We didn't have any replacement directors in April 2015 in any case. We now have 4 people ready to stand because everyone is so angry at the current directors.
I would like to get the EGM request prepared ASAP and then signed by 9 or 10 shareholders because we need an EGM on or before 3rd October if possible.
We are a non profit making company purely running a block of flats. I don't know the law. I assume we obey the latest laws on non profit companies that run blocks of flats. The best information we can glean from Another Managing Agent is it only needs 14 days notice for an Ordinary Resolution to remove director/s, but I have also read that to remove directors needs 28 days Notice. Ideally we need to remove the directors before 3rd Oct, but if the law says 28 days, then we will have to accept that. If we fill in a document requesting a vote on the removal of directors and more than half of shareholders sign the document then there is a slight chance that the directors could resign? So speed is of the essence to produce a valid document, hence we are consulting you! In the recent past ,other meetings have been called giving less than the required notice and we, the shareholders, have always accepted the short notice so short notice could be possible this time too.
Thanks for speedy response. OK we have dealt with the period of notice but my original question was about the wording of our document? We do not want to put in a document which is thrown out for a legal loophole hence.
i.e. Is there anything incorrect about the wording I originally sent to you please?
1 The request for an EGM
2 The wording of the Resolution?
Thank you very much AJ
No problem. Please do not hesitate to contact me if I can assist any further. In the meantime any feedback is gratefully received. Kind regards AJ
Thank you Alex, I thought we had finished. A couple of my colleagues have since asked. "The building is over 35 years old, our Mem and Arts were created under the 1948 Act, so you are saying that S303 and S304 of the 2006 Companies Act overrule the 1948 Act?
The pressure is now off. We have decided to get over 20 signatures on a Petition Form (following your guidelines) and give the directors one last chance to listen to the majority of shareholders at the General meeting on 3rd Oct. If they refuse to follow the wishes of over twenty (out of a total of 31) Shareholders, then we plan to present the fully signed petition to the Managing Agent immediately after the meeting.
Thank you Peter Bloomfield