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Special meetings of the shareholders may be called for any purpose or purposes, at any time, by the Chief Executive Officer; by the Chief Financial Officer; by the Board or any two or more members thereof; or by one or more shareholders holding not less than 10% of the voting power of all shares of the corporation ...
An extraordinary general meeting (EGM) is a shareholder meeting called other than a company's scheduled annual general meeting (AGM). An EGM is also called a special general meeting or emergency general meeting.
An EGM can be called by the members that hold at least 10% of the total voting power of all the members who have a right to vote on the matter on the date of submitting the request.
Calling a Special Meeting A Special Meeting can generally be called by the Board of Directors (which is straightforward as the board determines the business and calls the meeting) OR by a requisition of members that is properly submitted to the organization.
Proper notification for a shareholder meeting is dependent on the bylaws of the company, but typically requires written notification by a shareholder holding a certain threshold of shares in the company. The letter will typically state that a meeting is requested and the reason for the meeting.
At special meetings or by written consent, shareholders unhappy with the present board may be able to elect directors more to their liking.
The shareholder meeting (also known as the Annual General Meeting or AGM) is one of a company's primary corporate governance vehicles. During the meeting, the company's owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws.