That question is not addressed directly in our UCOL agreement. I don't see any reason why that could not happen if people wanted it to, so I would propose we allow people to split their votes. This is just my opinion if anyone thinks differently please let us know via email and we can decide it at the meeting.
Hi,Just a few questions from us:1. If two people in one household want to vote differently, can that work?
Our process of consensus is normally in the open and personally I favour open voting. Again, if people prefer a secret ballot please let us know and I we may decide to do that. I am aware that it's common practice in many situations to hold a secret ballot if someone calls for it, but the meeting would have to decide that.2. In the special meeting, will we be using secret ballot or open voting?
Yes, see attached spreadsheet. If you look at the PDF, you will see the total number of votes each shareholder has in green. You can check how the votes are calculated if you desire and confirm you have the correct number of votes.3. Will we be told beforehand how many votes we have based on our investment?
I guess the meeting is chaired by the regular chairperson. I am happy to tally the votes, which I will do on screen using this spreadsheet if the vote is open. The result will be immediate. If we have a secret ballot, we will need to appoint someone to tally the votes, and there may be a 15 minute delay while the votes are collated.4. Who is chairing the special meeting? Who is working out the proportions? Will the result be apparent immediately?
It will just be one item on the agenda. I don't expect any more discussion, voting should just take 5 minutes.5. Will the special meeting be followed by s normal meeting?
Frances and Sandy
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P.S. relevant parts of the agreement are below (from a 2017 version, I don't think it's changed since then):
16.2 Shareholders’ Powers
16.2.1 All decisions other than Directors’ decisions as set out in
Clause 16.1 above,
shall be made by Shareholders. Although prospective Shareholders
may attend
group meetings and participate in discussions they will not be
eligible to
participate in decisions unless invited by Shareholders. The
procedure for
making Shareholders decisions shall be as follows:
16.2.2 The Shareholders in each case shall consult with the Group
using the Group
Decision Making Process.
16.2.3 If a decision is not reached using the Group Decision
Making Process within the
shorter time of 10 days or two meetings then the Voting Procedure
set out in
Clause 16.3 shall at the request of any one Shareholder be
followed.
16.3 Voting Procedure
16.3.1 In the event of no decision having been reached in
accordance with Clause 16.2
the procedure shall be as follows:
16.3.2 The Directors shall give Five (5) days’ notice of a meeting
to resolve the issue to
all Shareholders who have paid up Shares.
16.3.3 Every Shareholder entitled to vote shall be entitled to One
(1) vote per share,
and an additional One (1) vote for each $5000 loan of loans
contributed
subject to Clause 16.3.5 below.
16.3.4 The number of votes to be allocated to each Shareholder
entitled to vote shall
be calculated as at the date of the meeting. The contributions as
recorded
against each person’s name in the Company Share Register and loan
record
shall be irrefutable evidence of each party’s contributions for
the purpose of
the vote.
16.3.5 The voting rights of each individual Shareholder shall be
capped so that no
individual shall control more than 10% of the vote, regardless of
the
percentage of their contribution. Any decisions shall be required
to be made by
a 75% majority of shareholding votes present.
16.3.6 The quorum in a meeting shall comprise Shareholders present
or by proxy
who:
(a) comprise 75% of those Shareholders entitled to vote; and
(b) hold not less than 75% of the total loan advances in the
Company.
(c) Those entitled to vote shall be entitled to vote by proxy.