Shareholder Rights – NBC Institute

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

Question

Yaw Perbi, the CEO of your company, is preparing for a top management meeting scheduled for 1 December 2023. One of the issues to be discussed is the mode of holding the next shareholders’ meeting. There are views that the Annual General Meeting (AGM) must be in-person so that members can vote on resolutions to be passed. Others believe that the AGM should be virtual or hybrid. Some shareholders believe that the items on the agenda are too many and that they would need two days to have a meaningful discussion. Kwasi Mensa, a shareholder, has decided not to attend the AGM if it is organised virtually.

Required:

a) Explain the following to your boss:

i) The requirement of the Companies Act, 2019 (Act 992) on the interval between which AGMs are to be held.

ii) THREE things that should be covered in the notice for an AGM.

iii) TWO consequences of not holding an AGM in accordance with the Companies Act.

iv) Justify whether or not decisions taken at the AGM will be binding on Kwasi Mensa.

Answer

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Tags: AGM, Companies Act, Corporate Governance, Meeting Notice, Shareholder Rights
Level: Level 1

Topic: Company Meetings and Resolutions
Series: Nov 2024

FM – May 2023 – L3 – Q1b – Mergers and Acquisitions

Discuss the typical factors included in takeover regulations across countries.

Question

b. The regulation of takeovers varies from country to country.

Outline the typical factors that such a regulation includes. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fair Valuation, Shareholder Rights, Takeover Regulation, Transparency
Level: Level 3

Topic: Mergers and acquisitions

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

Question

One of the two organs of a company is the general meeting of members.

Required:
State FOUR powers of the Annual General Meeting.

Answer

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Tags: Annual General Meeting, Company Law, Corporate Powers, Shareholder Rights
Level: Level 1

Topic: Company Law
Series: NOV 2020

CSEG – May 2017 – L2 – Q6b – Corporate governance framework

Identify four measures shareholders may seek to resolve agency problems in corporate governance.

Question

Agency problems are inherent in static corporate structures. This conflict arises when separate parties in a business relationship, such as a corporation’s managers and shareholders, have disparate interests. Corporations employ several dynamic techniques to circumvent static issues resulting from agency problems.

Required:

Identify FOUR measures which shareholders may seek to resolve any agency problems that arise. (4 marks)

Answer

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Tags: Agency Problems, Corporate Governance, Governance Mechanisms, Shareholder Rights
Level: Level 2

Topic: Corporate governance framework
Series: MAY 2017

BCL – Nov 2019 – L1 – Q2d – Company directors and other officers

Options available to a minority shareholder and potential court reliefs in a company merger scenario.

Question

Kwame Akoto holds 15% share in Sikem Investment Ltd, a brokerage firm, which by the regulations of the company, entitled him to appoint a director. To avoid the strict and high standards of banking, the Regulations of Sikem Investment prohibits banking and savings and loan schemes. Kwame Akoto received a letter from Mr. Pinkrah, Managing Director and 55% shareholder, that the company has merged with Sikaman Group owned 100% by Mr. Pinkrah. The merged company will upgrade into a full bank within the next three months. The shares of Kwame Akoto and all minority shareholders with Sikem Investment Ltd will be converted into a loan at 10% per annum interest with principal repayment schedule over the next five years. Mr. Pinkrah took all decisions alone without consulting the seven members on the board. All attempts to hold a board meeting to discuss the issues have been thwarted by Mr. Pinkrah.

Required:

i) State THREE (3) options open to Kwame Akoto in the circumstance of this case. (6 marks)

ii) State FOUR (4) likely reliefs the court may grant. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Legal Remedies, Minority Protection, Shareholder Rights
Level: Level 1

Topic: Company directors and other officers
Series: NOV 2019

BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies

Distinguish between equity shares and preference shares in three ways.

Question

In THREE (3) ways, distinguish between equity shares and preference shares. (6 marks)

Answer

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Tags: Corporate finance, Equity Shares, Preference shares, Shareholder Rights
Level: Level 1

Topic: Types of capital and the financing of companies
Series: JULY 2023

BCL – Dec2022 – Q5a – Company directors and other officers

Explain class rights, circumstances for their variation, and advice on the cancellation of special rights.

Question

Kofi Manu set up a company and had a scholarship to pursue his PhD in Australia. He then transferred part of his share to Abena Mansa with special rights in their agreement including rights on new shares, transfer restrictions unless with consent, and the right to appoint a Director if holding is at least 10%. Now Kofi Manu is back and wants to cancel the special rights of Abena Mansa, but Abena Mansa has argued that the special rights she had were class rights that could only be varied with her consent and she was not ready to vary it.

Required:
i) What is meant by class rights? (3 marks)
ii) Under what TWO (2) circumstances can class rights be varied? (4 marks)
iii) Advise Kofi Manu. (3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Class Rights, Corporate Law, Shareholder Rights, Special Rights, Variation of Rights
Level: Level 1

Topic: Company directors and other officers
Series: DEC 2022

BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders

Explain what a public limited liability company is and discuss two features of a private limited liability company.

Question

Nkaagi, your long-time family friend who is an Engineer by profession, recently took over as the Chief Executive Officer of Wakawaka Investment Ltd, a company listed on the Ghana Stock Exchange. He has on several occasions complained about the many legal requirements they have had to contend with and has now approached you for advice on the benefits to be derived from converting a public limited liability company into a private limited liability company.

Required:
i) Explain what a public limited liability company means to Nkaagi. (4 marks)
ii) Explain TWO (2) features of a private limited liability company. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Capital, Legal Structure, Private Company, Public Company, Shareholder Rights
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: APR 2022

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

Question

Required:

a) Explain the following to your boss:

i) The requirement of the Companies Act, 2019 (Act 992) on the interval between which AGMs are to be held.

ii) THREE things that should be covered in the notice for an AGM.

iii) TWO consequences of not holding an AGM in accordance with the Companies Act.

iv) Justify whether or not decisions taken at the AGM will be binding on Kwasi Mensa.

Answer

Find Related Questions by Tags, levels, etc.

Tags: AGM, Companies Act, Corporate Governance, Meeting Notice, Shareholder Rights
Level: Level 1

Topic: Company Meetings and Resolutions
Series: Nov 2024

FM – May 2023 – L3 – Q1b – Mergers and Acquisitions

Discuss the typical factors included in takeover regulations across countries.

Question

b. The regulation of takeovers varies from country to country.

Outline the typical factors that such a regulation includes. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Fair Valuation, Shareholder Rights, Takeover Regulation, Transparency
Level: Level 3

Topic: Mergers and acquisitions

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

Question

One of the two organs of a company is the general meeting of members.

Required:
State FOUR powers of the Annual General Meeting.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual General Meeting, Company Law, Corporate Powers, Shareholder Rights
Level: Level 1

Topic: Company Law
Series: NOV 2020

CSEG – May 2017 – L2 – Q6b – Corporate governance framework

Identify four measures shareholders may seek to resolve agency problems in corporate governance.

Question

Required:

Identify FOUR measures which shareholders may seek to resolve any agency problems that arise. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Agency Problems, Corporate Governance, Governance Mechanisms, Shareholder Rights
Level: Level 2

Topic: Corporate governance framework
Series: MAY 2017

BCL – Nov 2019 – L1 – Q2d – Company directors and other officers

Options available to a minority shareholder and potential court reliefs in a company merger scenario.

Question

Required:

i) State THREE (3) options open to Kwame Akoto in the circumstance of this case. (6 marks)

ii) State FOUR (4) likely reliefs the court may grant. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Legal Remedies, Minority Protection, Shareholder Rights
Level: Level 1

Topic: Company directors and other officers
Series: NOV 2019

BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies

Distinguish between equity shares and preference shares in three ways.

Question

In THREE (3) ways, distinguish between equity shares and preference shares. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate finance, Equity Shares, Preference shares, Shareholder Rights
Level: Level 1

Topic: Types of capital and the financing of companies
Series: JULY 2023

BCL – Dec2022 – Q5a – Company directors and other officers

Explain class rights, circumstances for their variation, and advice on the cancellation of special rights.

Question

Required:
i) What is meant by class rights? (3 marks)
ii) Under what TWO (2) circumstances can class rights be varied? (4 marks)
iii) Advise Kofi Manu. (3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Class Rights, Corporate Law, Shareholder Rights, Special Rights, Variation of Rights
Level: Level 1

Topic: Company directors and other officers
Series: DEC 2022

BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders

Explain what a public limited liability company is and discuss two features of a private limited liability company.

Question

Required:
i) Explain what a public limited liability company means to Nkaagi. (4 marks)
ii) Explain TWO (2) features of a private limited liability company. (6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Capital, Legal Structure, Private Company, Public Company, Shareholder Rights
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: APR 2022

Question Tag: Shareholder Rights

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BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

You're reporting an error for "BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements"

FM – May 2023 – L3 – Q1b – Mergers and Acquisitions

Discuss the typical factors included in takeover regulations across countries.

You're reporting an error for "FM – May 2023 – L3 – Q1b – Mergers and Acquisitions"

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q1d – Company Law"

CSEG – May 2017 – L2 – Q6b – Corporate governance framework

Identify four measures shareholders may seek to resolve agency problems in corporate governance.

You're reporting an error for "CSEG – May 2017 – L2 – Q6b – Corporate governance framework"

BCL – Nov 2019 – L1 – Q2d – Company directors and other officers

Options available to a minority shareholder and potential court reliefs in a company merger scenario.

You're reporting an error for "BCL – Nov 2019 – L1 – Q2d – Company directors and other officers"

BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies

Distinguish between equity shares and preference shares in three ways.

You're reporting an error for "BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies"

BCL – Dec2022 – Q5a – Company directors and other officers

Explain class rights, circumstances for their variation, and advice on the cancellation of special rights.

You're reporting an error for "BCL – Dec2022 – Q5a – Company directors and other officers"

BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders

Explain what a public limited liability company is and discuss two features of a private limited liability company.

You're reporting an error for "BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders"

BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements

Legal requirements for holding an AGM and consequences of non-compliance.

You're reporting an error for "BCL – Nov 2024 – L1 – Q5a – Annual General Meeting (AGM) Requirements"

FM – May 2023 – L3 – Q1b – Mergers and Acquisitions

Discuss the typical factors included in takeover regulations across countries.

You're reporting an error for "FM – May 2023 – L3 – Q1b – Mergers and Acquisitions"

BL – Nov 2020 – L1 – SB – Q1d – Company Law

List powers exercised by the Annual General Meeting (AGM) of a company.

You're reporting an error for "BL – Nov 2020 – L1 – SB – Q1d – Company Law"

CSEG – May 2017 – L2 – Q6b – Corporate governance framework

Identify four measures shareholders may seek to resolve agency problems in corporate governance.

You're reporting an error for "CSEG – May 2017 – L2 – Q6b – Corporate governance framework"

BCL – Nov 2019 – L1 – Q2d – Company directors and other officers

Options available to a minority shareholder and potential court reliefs in a company merger scenario.

You're reporting an error for "BCL – Nov 2019 – L1 – Q2d – Company directors and other officers"

BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies

Distinguish between equity shares and preference shares in three ways.

You're reporting an error for "BCL – July 2023 – L1 – Q5b – Types of Capital and the Financing of Companies"

BCL – Dec2022 – Q5a – Company directors and other officers

Explain class rights, circumstances for their variation, and advice on the cancellation of special rights.

You're reporting an error for "BCL – Dec2022 – Q5a – Company directors and other officers"

BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders

Explain what a public limited liability company is and discuss two features of a private limited liability company.

You're reporting an error for "BMIS – April 2022 – L1 – Q1b – The business organisation and its stakeholders"

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