Question: Strada ( Pty ) Ltd will be holding its first annual general meeting at its registered office. The company s memorandum of incorporation allows shareholders
Strada Pty Ltd will be holding its first annual general meeting at its registered office. The companys memorandum of incorporation allows shareholders to appoint proxies to represent them at shareholders meetings, subject to clause of the Memorandum of Incorporation, which provides as follows: An instrument appointing a proxy must be submitted to the Transfer Secretaries or the Chairperson of the Company not less than FORTYEIGHT hours before the commencement of the Annual General Meeting or Shareholders Meeting at which the proxy is to participate. One of the shareholders, Busi, feels strongly about some of the proposed resolutions set out in the notice of the annual general meeting, and wants to express her views on these matters to the board of directors. About two hours before the meeting, Busi has an emergency to which she must attend, which makes it impossible for her to attend the annual general meeting. With reference to the Companies Act of case law and the facts above, advise Busi whether she can validly appoint a proxy to exercise her right to vote and to express her views at the annual general meeting of Strada Pty Ltd Also consider in your answer whether clause of the companys Memorandum of Incorporation is a valid clause.
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