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Definition of


Corporate Governance abbr

general meeting that is not scheduled annual meeting extraordinary general meeting: any general meeting of an organization other than the annual meeting. Directors can usually call an EGM at their discretion, as can company members who either hold not less than 10% of the paid-up voting shares, or who represent not less than 10% of the voting rights. Directors are obliged to call an EGM if there is a substantial loss of capital. Fourteen days' written notice must be given, or 21 days' written notice if a special resolution is to be proposed. Only special business can be transacted at the meeting, the general nature of which must be specified in the convening notice.

Definitions of ’EGM’ and meaning of ’EGM’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’EGM’ and other financial terms with our online QFINANCE Financial Dictionary.

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