NON-LISTED PUBLIC BANKS CAN NOW HOLD VIRTUAL GENERAL MEETINGS
We had, by a previous newsflash which can be accessed here, informed you that Bowmans had successfully moved the court under section 280 of the Companies Act, 2015 for leave to have WPP Scangroup Plc, a public listed company, convene an extraordinary general meeting virtually.
That meeting has since been held, setting the stage for an inevitable change in how companies hold general meetings, going forward.
By reason of the fact that the orders in the WPP Scangroup Plc matter only applied to public listed companies, Bowmans has once again been able to successfully unlock a challenge that faced public non-listed companies.
In this regard, and by an order of the court issued today by the Honourable Mr. Justice Majanja in High Court Miscellaneous Application No.E756 of 2020 In the matter of Victoria Commercial Bank Limited, public non-listed Banks can hold virtual general meetings.
Quite apart from the court applications, Bowmans has also assisted and continues to assist various companies in the preparation for, and facilitation of, virtual general meetings.