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Posted on 1 Jun 2021
Case number: CT00669ADJ/2021
Case type: Annual general meeting
Decisions Status: Granted

Application for an extension of time to convene an annual general meeting of shareholders in terms of section 61(7)(b) of the Companies Act 71 of 2008–section 61(7)(b) requires an applicant to show “good cause” to be granted relief –applicant’s grounds for extension primarily concern the fact that its holding company is under supervision due to on-going business rescue proceedings and there is uncertainty regarding the applicant’s ability to proceed as a going concern–application brought after the previous extension has long expired –held, an AGM for a state-owned company affects the interests of a single shareholder, although other stakeholders may be affected –held, extension granted until 30 September 2021.

Decisions and Orders

Date of Decision: 1 Jun 2021

Decisions Status: Granted

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