10-30-2011, 05:00 AM
As per the companies ordinance, a public LISTED company requires atleast 3 members and 7 directors to operate..
question 1- If there are 3 members, how can there be 7 directors?? so effectively, for a public listed company, there should be atleast 7 members all of whom are directors for it to commence....this means initially the subscribers to the memorandum should be 7... true? if not, where am i wrong?
For an AGM, a public listed company requires 10 members present personally having atleast 25% voting power personally or in proxy..
question 2- If there are 7 directors (or 3 members), how can the AGM be held, as the quorum would not be there..the 10 members requirement would not be fulfilled..??
question 1- If there are 3 members, how can there be 7 directors?? so effectively, for a public listed company, there should be atleast 7 members all of whom are directors for it to commence....this means initially the subscribers to the memorandum should be 7... true? if not, where am i wrong?
For an AGM, a public listed company requires 10 members present personally having atleast 25% voting power personally or in proxy..
question 2- If there are 7 directors (or 3 members), how can the AGM be held, as the quorum would not be there..the 10 members requirement would not be fulfilled..??