Collective powers

The powers afforded to the collective membership can be found here

 

• already connected[1] with TWP and therefore entitled to be offered shares.

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• become the holder of shares in TWP.

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Individual powers

 

• if the shares they hold are fully paid, a member is entitled to vote at general meetings.

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Collaborative powers

If at least:

 

• 5% of the members request it, the directors are required to call a general meeting at TWPs expense.

 

• 5% of the members request it, a resolution must be circulated as a written resolution. The costs of circulating the resolution are paid by the requesting members and TWP or any other aggrieved person may apply to court for the circulation to be stopped where it is believed this right is being abused.

 

• 5% or 100 members (with £100 paid up average per member), can require the circulation of a statement of not more than 1,000 words with respect to a resolution or any other business. The members need not pay the expenses of circulation if the requests relate to an AGM or are received before the end of the financial year preceding the meeting. TWP or any other aggrieved person may apply to court for the circulation to be stopped where it is believed this right is being abused.

 

• 2 members, or 10% of eligible voting members or members holding shares the paid up value of which aggregates 10% of the paid up capital can demand a poll.

 

• 5% or 100 members (with £100 paid up average per member), can require directors to obtain an independent report on a poll.

 

• 10% of the members or members representing at least 10% of the value of TWPs issued share capital can require an audit of the accounts – on condition the notice is received by TWP before the financial year to be audited and no later than one month before the end of that year.

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Individual rights

 

• Copies of constitutional documents [1] as outlined in Companies Act 2006, Section 32

 

• Inspect and receive copies [2] of the members register.

 

• A single copy of the last annual accounts, last strategic report, last directors report and the auditors report on the last accounts.

 

• Inspect and request a copy of a directors service contract. TWP has the right to charge a fee for this and must provide a copy of the contract within seven days of the request date.

 

• If the right is conferred by statute, then the member may inspect any accounting records, book, or document of TWP.

 

• To receive notice of and invitation to attend all general meetings.

 

• In the event there are insufficient members in the UK to call a general meeting, to call a general meeting.

 

• o propose a person to the members for appointment at a general meeting.  Notice must be given to TWP between 14 and 35 days prior to a general meeting, and must include the particulars which would, on appointment, be required to be included into TWPs register of directors and enclose a statement of willingness from the proposed person.

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[1] Articles issued by the company must include the documents stated in Companies Act 2006, Section 36

 

[2] Company must respond in line with Companies Act 2006, Section 117 & Section 120 .  Sole members firms are entered as per Companies Act 2006, Section 123