Question
1)Large Goods Ltd has been having secret negotiations with BBL Ltd to sell its transport and logstics business. This business accounts for 25% of Large
1)Large Goods Ltd has been having secret negotiations with BBL Ltd to sell its transport and logstics business. This business accounts for 25% of Large Goods Ltd's assets and 20% of it's revenues. Would the sale of this business require the approval of Large Goods Ltd's shareholders?
2)Rufus Wong is unhappy with the way Subco Ltd is being run. The company has not made a profit or paid a dividend since 2008. Rufus attends the company's AGM where he asks a number of questions.about the company's operations and criticises the performance of the company's executive directors.After 45 minutes the chairperson refuses to take futher questions from Rufus . Is this allowed?
3)After the AGM Rufus is unhappy and decides that his best chance is to remove Barry one of the directors of Subco and have himself appointed as a director. He requests the directors to call a members' meeting to put the matter to a vote.
Can he call a meeting?
What are the procedural steps he must take to call a meeting?
Rufus holds 5% of the ordinary shares in the company
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