Happy Gilmour Ltd has only ever issued 100 shares of the same class. Each share entitles the holder to one vote in general meetings. After the required notice had been given, a resolution is put to the company's AGM to change the company's constitution to allow it to issue a new class of shares. To be valid, a change to the company's constitution requires a special resolution. However, only 10 votes are cast (the owners of the other shares abstain from voting).

What is the minimum number of votes that must have been cast in favour of the resolution in order for a special resolution to have been passed?
a. 5
b. 8
c. 50
d. 75

Question

07-06-2024
Law

Answered

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Happy Gilmour Ltd has only ever issued 100 shares of the same class. Each share entitles the holder to one vote in general meetings. After the required notice had been given, a resolution is put to the company's AGM to change the company's constitution to allow it to issue a new class of shares. To be valid, a change to the company's constitution requires a special resolution. However, only 10 votes are cast (the owners of the other shares abstain from voting).

What is the minimum number of votes that must have been cast in favour of the resolution in order for a special resolution to have been passed?
a. 5
b. 8
c. 50
d. 75

Sagot :

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