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Definition

A meeting of the shareholders of a company which is outside the normal annual general meetings (AGM) and which is convened for some specific purpose, usually urgent, which is identified in the notice. Special meetings like this can be called for a variety of reasons such as a legal matter, the replacement of a key executive or any other matter which cannot wait until the next AGM. Special meetings can be called by a board member or anyone else identified in the company's Memorandum of Incorporation (MOI). If 10% or more of a company's shareholders petition for a special meeting then the board must organise it (in terms of section 61 of the Companies Act 71 of 2008).

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