extraordinary general meeting
general meeting other than regular annual meeting any general meeting of an organization other than the annual meeting. Directors can usually call an extraordinary general meeting 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.
Related definitions of "extraordinary general meeting"
- Abbr EGM