Company Secretarial AGM
CITRA BERHAD (992367-K)
Report on the Annual General Meeting (AGM)
The 18th Annual General Meeting of Citra Bhd. was held on 1st APRIL 2010 (Thursday) at 12.00 pm at Bukit Urai Golf Club to transact the following purposes:
ANNUAL GENERAL MEETING
Annual General Meeting (AGM) is a general meeting of a company which is held once a year. According to Section 143 (1) CA, every company is required to hold its first AGM within 18 months after the date of incorporation. Subsequently, AGM should be held within 15 months from the date of preceding AGM. In addition to this subsection, Section 169 (1) CA requires the company to hold its AGM not later than 6 months after financial year end. Since there are two provisions governed the determination of date of AGM, a company is required to choose the date whichever comes first as the latest date to convene an AGM.
There are two types of business transacted in the AGM such as ordinary business and special business. Generally, all business transacted in an AGM should be called ‘special business’ with a few exceptions as below which are normally known as ‘ordinary business’:
(i) Consideration of the accounts, balance sheet and the reports of the directors and auditors
(ii) Declaration of a dividend recommended by the directors
(iii) Election of directors in place of those retiring
(iv) Appointment and fixing of the remuneration of auditors
In order for a meeting to be valid, it must be properly convened, properly conducted and properly constituted.
Properly Convene
Only person empowered by the Act or the Articles of Association have the authority to convene an AGM. The persons who have the power are:
(i) The board of directors and secretary
(ii) Two or more members holding not less than 10% of the issued share capital of the company, or if the company has no share capital, not less than 5% in number of the members so such lesser number as allowed by the articles
(iii) The court
The notice of meeting is also
Report on the Annual General Meeting (AGM)
The 18th Annual General Meeting of Citra Bhd. was held on 1st APRIL 2010 (Thursday) at 12.00 pm at Bukit Urai Golf Club to transact the following purposes:
ANNUAL GENERAL MEETING
Annual General Meeting (AGM) is a general meeting of a company which is held once a year. According to Section 143 (1) CA, every company is required to hold its first AGM within 18 months after the date of incorporation. Subsequently, AGM should be held within 15 months from the date of preceding AGM. In addition to this subsection, Section 169 (1) CA requires the company to hold its AGM not later than 6 months after financial year end. Since there are two provisions governed the determination of date of AGM, a company is required to choose the date whichever comes first as the latest date to convene an AGM.
There are two types of business transacted in the AGM such as ordinary business and special business. Generally, all business transacted in an AGM should be called ‘special business’ with a few exceptions as below which are normally known as ‘ordinary business’:
(i) Consideration of the accounts, balance sheet and the reports of the directors and auditors
(ii) Declaration of a dividend recommended by the directors
(iii) Election of directors in place of those retiring
(iv) Appointment and fixing of the remuneration of auditors
In order for a meeting to be valid, it must be properly convened, properly conducted and properly constituted.
Properly Convene
Only person empowered by the Act or the Articles of Association have the authority to convene an AGM. The persons who have the power are:
(i) The board of directors and secretary
(ii) Two or more members holding not less than 10% of the issued share capital of the company, or if the company has no share capital, not less than 5% in number of the members so such lesser number as allowed by the articles
(iii) The court
The notice of meeting is also