The members of a traded company may request the company to include in the business to be dealt with at an annual general meeting any matter (other than a proposed resolution) which may properly be included in the business.
A matter may properly be included in the business at an annual general meeting unless –
it is defamatory of any person, or
it is frivolous or vexatious.
A company is required to include such a matter once it has received requests that it do so from—
members representing at least 5% of the total voting rights of all the members who have a right to vote at the meeting, or
at least 100 members who have a right to vote at the meeting and hold shares in the company on which there has been paid up an average sum, per member, of at least £100.
See also section 153 (exercise of rights where shares held on behalf of others).
A request—
may be in hard copy form or in electronic form,
must identify the matter to be included in the business,
must be accompanied by a statement setting out the grounds for the request, and
must be authenticated by the person or persons making it.
A request must be received by the company not later than—
6 weeks before the meeting, or
if later, the time at which notice is given of the meeting.