AGM in May and EGM in November
Because of the timing of LINX’s financial year, some matters cannot be dealt with in May, so a second meeting is held in November – an Extraordinary General Meeting or EGM. Though not that extraordinary since we hold it every year – typically held during the second day of the late November member conference.
Very occasionally where there is other important business to deal with, further EGMs can be called.
The business of a general meeting is presented to the members as a number of resolutions. The resolutions typically come from the LINX Board, or from the LINX staff with the support of the Board. However, any member can request a matter to be put to the members as a resolution.
Additionally, at the May AGM two of LINX’s Board elected directors retire in rotation and an election is held following the AGM for two new directors. Retiring directors can restand subject to certain term limits.
The final business at a general meeting can be to consider any suspended members and allows the members the opportunity to permit the suspended members to remain as members. If not, they are removed from membership at the general meeting.
The AGM in May
At the AGM, the audited accounts for the last financial year are presented and considered for approval by the members. The auditors are formally appointed for the following year. In addition any relevant matters, such as changes to the LINX governance documents may be considered.
Prior to the AGM any candidates for the two Board vacancies attend the member conference for a session to answer questions from the membership – the election hustings. Following the hustings and for the two weeks following the AGM members can vote in the ballot to elect the directors.
The EGM in November
The resolutions in November typically concern the budget for the following financial year.
Members are asked to formally approve LINX’s service fees, the elected directors’ remuneration and the overall budget.
In addition, any other matters can be brought for the members to approve.
LINX operates on the basis of one member one vote – though where members are under common control, they collectively get just one vote. This applies to voting on resolutions and in the election. LINX’s voting is overseen independently by Electoral Reform Services, part of the respected Electoral Reform Society. They provide both voting by post and online.
Most resolutions are decided on a 50% majority, but special resolutions (which affect the main corporate documents) require a 75% vote in favour to be passed. The percentage is of those who vote for or against, non-voters or abstainers are disregarded.
The election of Board directors is decided by single transferrable vote.
The items to be considered at a general meeting are announced with a notice of the general meeting three weeks before the meeting. This is also circulated to the membership mailing list.
Any unusual matters which LINX will ask members to approve will typically be raised for consultation at the members conference three months ahead of the general meeting. There’s more elsewhere in the website on member consultations.
LINX AGM & EGM FAQs
The following are frequently asked questions about LINX General Meetings – AGMs and EGMs. If you have a question and this page does not answer it, please get in touch.
- At the meeting in person: Please follow the same process for voting online. If you have any difficulties simply ask any member of the LINX staff at the meeting for help. They will also be able to let you use a laptop to access the voting site and vote if you don’t have access to a suitable device at the meeting. You do, however, have the right to vote in person on the resolutions, though we discourage this as it is easier to vote online. But if you do want to vote in person, or have left voting too late for the online process, we will facilitate that using voting cards at the meeting.
- By proxy at the meeting: You can authorise another member of LINX who will be at the meeting to vote on your behalf as they see fit. Details of how to do this are in the voting packs.
- By post: The printed voting pack sent to your main Corporate Representative includes a voting paper and a reply paid envelope – valid overseas where countries support this. Simply complete the form and return it in good time in the envelope. Replies must be received by Electoral Reform Services at their Election Centre in London by close of business hours in London the day prior to the meeting. You can only vote in this way on any resolutions – you must vote online in the ballot to elect the Board.
- Online: Visit the online voting site listed in the voting pack posted or emailed to your company. There you will need to quote the two parts to the voting secure code listed in the voting pack and will then be able to specify your vote. Where there is a significant number of votes, we also allow a “Quick Vote” to vote as the Council recommends in all resolutions with just a single click. Online voting on resolutions closes thirty minutes before the AGM or EGM. Online voting in an election closes at noon on the day two weeks following the day of the AGM.
- Voters: Can vote at a LINX meeting in person and will be sent an email containing the voting security codes.
- Authorisers: Can vote at a LINX meeting in person and will be sent both a printed voting pack and an email containing the voting security codes.