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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I live in an entirely private, mixed free/leasehold housing

Customer Question

I live in an entirely private, mixed free/leasehold housing estate which is run by a Residents Management Company, of which each property freeholder and leaseholder is a shareowner. The required minimum 5% of the shareholders have recently demanded that the company hold a General Meeting within the required 28 days so that various resolutions submitted by that 5% group can be voted upon. A formal notice calling the meeting for this Friday (19 Aug) and which also details the various resolutions has been sent to all shareholders. Could somebody please advise me urgently:
1) Can one or more of the 5% group withdraw their support for the meeting at any time up to the start of the meeting, thereby resulting in the meeting having to be cancelled as the 5% minimum of shareholders no longer applies?
2) If one or more shareholders withdraws their support can they be substituted immediately by another shareholder, thereby leading to the meeting having to proceed as originally planned or would the process have to start afresh because of this change to the make-up of the 5% group, thereby postponing the GM by up to 28 days?
3) If the whole of the 5% group can be persuaded to withdraw their demand for the meeting and its associated resolutions before it starts, can the meeting be cancelled or does the meeting have to proceed regardless because the formal calling notice has been issued to shareholders?
Kind regards
Mr J Hendrick
Submitted: 1 year ago.
Category: Law
Customer: replied 1 year ago.
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Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you with this:

1) No - it only needs 5% to CALL a meeting. There does not need to be support at 5% at the meeting, it is for the purposes of calling the meeting

2) No - because 5% was needed to call it

3) No - the meeting has been called. It must go ahead. Any discussions or resolutions discussed at the meeting might not have support, but it only needed 5% to call the meeting in the first place.

Can I clarify anything for you about this today please?
Alex