- Notice of the general meeting as provided for under the Companies Act, 2015;
- information to make informed decisions on any resolutions placed before them;
- opportunity to ask any questions and seek any clarification that they require from the directors;
- an opportunity to vote with the voting procedure made clear to them;
- other grounds as may be deemed appropriate in the circumstance.
High Court Directions on Holding of General Meetings by Public Listed Companies During The Covid-19 Pandemic
Published on May 7, 2020, 12:49 p.m. | Category: Commercial & Business Law
Further to our article on how to conduct virtual board and shareholders meeting during the Covid-19 Pandemic, the High Court of Kenya issued an Order on 29th April, 2020, by virtue of powers bestowed on it by Section 280 of the Companies Act, 2015 directing the manner in which public companies listed on the Nairobi Securities Exchange may conduct general meeting in the event it is impracticable to conduct the same as required by its Articles of Association due to the restrictions on public gatherings and social distancing imposed on account of the ongoing Covid-19 pandemic and related public health laws, regulations and directives.In the Miscellaneous Application Number E680 of 2020; the court directed that any public companies listed on the Nairobi Securities Exchange may hold their general meetings using virtual/electronic technology or hybrid means. The Court ordered that such listed companies should request for a No Objection letter from the Capital Markets Authority (Authority) at least 14 days prior to the issuing of statutory notices to its shareholders.
The request by the listed company must demonstrate to the Authority that its shareholders have been provided with:
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