2022 accounts and notice of AGM

[rayf]

no e-mail for me either

[piperinc]

Same here ... My email arrived at 09.14 this morning. I'm now trying to vote around 12 hours later and get the message "Voting for the upcoming general meeting has now closed, in accordance with the company's Articles of Association."

I'm the same also

[im174204]

I only received my email yesterday 12th April asking me to vote, however, all voting has closed and I haven't been given 14 days notice.

If Richard holds 99.2% of the shares in this company, how many shares are out there for people to own? I have 709 shares but not used the site for a while due to covid and ill health.

[richard@imutual]

Apologies are due. Although I posted the notice on the website on 29th March, I overlooked the sending of an email to accompany it. The reminder sent on Monday was obviously a bit close to the deadline, sorry about that.

Our company's Articles of association state that we can only accept proxy forms up to 48 hours before the scheduled meeting time. I've checked the wording to see if you could still (late) nominate me as your proxy and give me your voting instructions but I don't think that's permissible. See section 1.18.10

As you may have read elsewhere, due to imutual's constrained finances I've not been able to devote much time to the site up until last week. Will endeavour to do better next time

[pabenny]

Given the failure to issue proxy notices in time, I suggest the AGM should be rescheduled to allow all members opportunity to vote.

[Sarah]

How about voting "in person" at the meeting?

However, that presumably would require identity verification, which hasn't been in evidence at previous meetings.

[MrsBear]

The notice given has met the legal requirement, even if the lack of earlier emails was not ideal as I've conceded.

Re-arranging the AGM would incur further demands on my limited time, which I feel would be better spent addressing some of the practical customer service issues. So while I don't rule it out, I'd like to understand from those advocating this what they'd hope to achieve?

The resolutions are the standard ones re approving accounts etc. There is no contested election. The only possible outcome from a "re-vote" I can see is me being failed to get re-elected as director or the accounts not being approved by shareholders; both of which would cause considerable headaches for the company with no clear benefit

If someone wants to put themselves forward as an alternative director that would be an entirely different matter. But nobody has ever done so in the 13 years the company has been operating

[MrsBear]

Given the failure to issue proxy notices in time, I suggest the AGM should be rescheduled to allow all members opportunity to vote.

Whilst i can understand that you have been deprived of voting, I am not sure what would be acheived by having another AGM as there are only 2 resolutions ....

[pabenny]

Why reschedule the AGM?
1) Several shareholders have posted here about missing the opportunity to vote. Disenfranchising some through an admin error hardly speaks to the mutual concept.

2) The articles linked above were superseded when IM converted from being a plc. The current articles filed at Companies House do not require closure of proxy voting 48 hours before the meeting. Closing voting early is arguably a Companies Act breach.

[richard@imutual]

The current articles filed at Companies House do not require closure of proxy voting 48 hours before the meeting.

Mmmmm that may be correct. Not 100% sure but I've reopened voting until 4pm tomorrow