Dear Board of Directors. The fifth schedule of the companies act, section 2, sub-paragraph (b)(i) states:
(b) The notice shall state - (i) the nature of the business to be transacted at the meeting in sufficient detail to enable a shareholder to form a reasoned judgment in relation to it; and It further goes on to state in section 2(f) that clause 2(b) stand irrespective of the bylaws or constitution of the company. The notice distributed for this meeting does not contain sufficient detail for any member to make reasoned judgement - there is: 1. No Audit report as supplied by the Audit Committee attached 2. There is no detail as regards the appointment of the auditor 3. The proposed fee structure as detailed in referenced in section 5.4 of the meeting notice contains no detail 4. The proposed budget was not distributed by the meeting notice (as referenced by section 5.3 of the meeting agenda) 5. There is nomcom report attached the meeting agenda As such - this notice of meeting is invalid as per the companies act and as per section 12.2.(d) of the companies bylaws. As such - you require the waiver of every participating member to continue with this meeting - anything else - and the meeting is simply not valid. Unless of course the board wishes to play the registered members card and once again prove to this membership base that they are not considered full members of this organisation as has been the claim for years. If this board wishes to make this claim - please state so explicitly - if not - please inform this community as to how you will go about seeking the waiver as is required by the companies act. Thanks Andrew
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