An Extraordinary General Meeting, or EGM, is a shareholder meeting called other than a company’s scheduled annual general meeting. EGMs are also called special general meetings or emergency general meetings. The purpose of an EGM may be to consider and vote on specific items of business, such as the election of directors or the sale of all or substantially all the assets of the company.EGMs can be called by:(1) the board of directors;(2) shareholders holding at least 10% of the voting shares; or(3) any other person authorized to do so in accordance with provincial law.In order for an EGM to be validly held, it must comply with applicable notice and procedural requirements under provincial law.If you are a shareholder who wishes to call an EGM, you should first review your province’s corporate statute to determine what notice and procedural requirements must be met. You will also need to prepare and distribute a proposed agenda for the meeting setting out all items that will be considered by shareholders. Finally, you will need to ensure that proper notice is given to all shareholders in advance of the meeting date so they have an opportunity to attend and vote on matters brought before them.
