Formal Meetings

Question 1

What are Formal Meetings?

Answer 1

Formal meetings are normally held for a specific purpose and at regular intervals eg. the Annual General Meeting of a public limited company which has to be held by law. Formal meetings tend to have strict procedures and have to follow certain rules and regulations.

Question 2

What happens during a Formal Meeting?

Answer 2

Minutes (formal notes) of the meeting will require to be taken and kept as a record of what was discussed and what was decided during the meeting.

Question 3

Types of Formal Meetings
Annual General Meeting

Answer 3

All public limited companies must hold an annual meeting to which all shareholders are invited. The AGM is required by law. The AGM gives shareholders the opportunity to discuss company performance during the year, the future plans and elect office bearers for the coming year.

Question 4

Types of Formal Meetings
Extraordinary General Meeting

Answer 4

A meeting open to all shareholders, normally called to discuss special business which cannot be held over until the next AGM, eg. a rival company wants to buy the business.

Question 5

Types of Formal Meetings
Board Meeting

Answer 5

The business of a limited company is managed between AGMs by the Board of Directors. The Directors hold board meetings at which company policy is discussed and determined.