The impact and spread of this virus is being felt the world over, causing unprecedented restrictions to travel and preventing gatherings for social or business reasons. The Company directors of the LCSP Register have been advised in the light of the threat posed by the evolving COVID-19 situation and the fact that the proposed venue is now unavailable to seek alternative options to the ‘physical’ meeting proposed in June.
As the formal notification of the upcoming AGM has not been given we do have some albeit limited options. The decision is to delay the AGM until October (date to be confirmed as and when venue/venues become available). This delay will be permitted under the UK Corporate Governance Code and eligible members will receive due notice giving not less than 21 clear days notice. Notwithstanding any delay to the AGM, the expectation would be that the Company would publish its annual reports in accordance with its original timetables.
Under the present Memorandum and Articles of Association of the LCSP Register, the directors have no inherent power to postpone an AGM. In the event that the October meeting is in jeopardy due to ongoing circumstances the LCSP Register as a LTD Company have a final option of dispensing with holding a ‘physical’ (or ‘in-person’) AGM before the latest date required for such a meeting, then all members entitled to attend and vote at the AGM would sign a unanimous written resolution approving the business of the AGM.
Secretary LCSP Register.