16:34 PM, 2nd February 2023, About 3 years ago 2
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Hello, I wonder if you could answer this query please? I live in a mixed 14 flat block where some are ‘share of freehold’ and some are ‘leasehold’. There is a maintenance/service company in place to whom both groups pay annual charges and two Directors of the company (of freeholders). Only the leaseholders pay ground rent.
Can the Directors only invite ‘share of freeholders’ to the AGM, excluding leaseholders?
This is what is being proposed – a letter has gone out from the maintenance company inviting ‘share of freeholders’ to the AGM, but not leaseholders.
As a leaseholder, I would like to attend, indeed in previous years both share of freeholders and leaseholders were invited, but not this year.
Thank you,
Scotty
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Judith Wordsworth
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Sign Up12:05 PM, 3rd February 2023, About 3 years ago
AGM’s are essentially meetings of the members of the company. In the case of a company having a share capital, the members are the shareholders. There may be classes of shares which do not carry the right to attend general meetings or to vote, or which entitle the holders to do so only in particular circumstances.
The company’s articles, or the resolution creating the class of shares in question will specify what rights attach to that class. You can find these and download at Companies House.
You could request to attend but if agreed might not be able to put your thoughts or 2d worth in.
Kizzie
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Sign Up17:03 PM, 3rd February 2023, About 3 years ago
Reply to the comment left by Judith Wordsworth at 03/02/2023 – 12:05
What does your lease say about membership of the management company.
Did you buy just the lease or should your solicitor have looked to see if the seller was selling share of freehold in the management company. You could look up the company on companies house register and see if your sellers are still registered as shareholders in which case the share should have been transferred to you at purchase. It may be a tripartite lease that is Landlord-management company-leaseholder a freehold owning entirely Leaseholder-owned company subject to a trust. If so you need to download from CH the memorandum and Articles of association and read what it says on voting rights.