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12-11-2012, 11:49 PM
(12-11-2012, 11:28 PM)Musicwhiz Wrote:(12-11-2012, 11:25 PM)pianist Wrote: strange, if it was supposed to be a vote by poll, then why did a vote by show of hands happened before that? can someone enlighten me?
Technically, once a vote by show of hands has commenced, the Company is not allowed to switch to a vote by poll. A good company secretary should ensure this. However, do note that company secs are under the employ of the Company and report to the BOD!
Courts Asia Prospectus:
Quote:Except as otherwise provided in the Articles of Association of our Company, 2 or more Shareholders must be present in person or by proxy to constitute a quorum at any general meeting. Under the Articles of Association of our Company, on a show of hands, every Shareholder present in person and by proxy shall have 1 vote, and on a poll, every Shareholder present in person or by proxy shall have 1 vote for each ordinary share which he holds or represents. A poll may be demanded in certain circumstances, including by the Chairman of the meeting or by any Shareholder present in person or by proxy and representing not less than 10 per cent. of the total voting rights of all Shareholders having the right to attend and vote at the meeting or by any 2 Shareholders present in person or by proxy and entitled to vote. In the case of a tie vote, whether on a show of hands or a poll, the Chairman of the meeting shall be entitled to a casting vote.
Religare Health Trust Prospectus:
Quote:At the general meeting, a resolution put to the vote of the meeting shall be decided on a show of hands, unless a poll (before or on the declaration of the results of the show of hands) is demanded. Under the Trust Deed, on a show of hands every Unitholder present in person or by proxy shall have one vote, and on a poll every Unitholder who is present in person or by proxy shall have one vote for each Unit (whether Common Units or Sponsor Units) which he or she holds or represents. A poll may be demanded in certain circumstances, including by the chairman of the general meeting or by five or more Unitholders (including their proxies) having the right to vote at the general meeting or by Unitholders(s) (including their proxies) representing not less than 10.0% of the total voting rights of all the Unitholders having the right to vote at the general meeting.
SGX Prospectus:
Quote:Under our Articles of Association:
● on a show of hands, every shareholder present in person and by proxy shall have one vote; and
● on a poll, every shareholder present in person or by proxy shall have one vote for each share which he holds or represents.
A poll may be demanded in certain circumstances, including:
● by the Chairman of the meeting;
● by any two shareholders present in person or by proxy and entitled to vote; or
● by any shareholder present in person or by proxy and representing not less than 10% of the total voting rights of all shareholders having the right to attend and vote at the meeting.
However, no poll may be demanded on a question of the choice of the Chairman of the meeting or on a question of adjournment of the meeting.
Looking at the voting rights policies of the 2 recently listed companies / trust, I don't think this is wrong technically.
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.