GLOSSARY

SPECIAL RESOLUTION

12 May 2016 By PDSNET

A special resolution can only be passed with the approval of at least 65% of the voting shares of the company depending on the stipulations of the memorandum of incorporation (MOI). Special resolutions are required for any major decisions in the company such as the changing of the nature of its business, the conversion of a public company into a private company or any "fundamental transaction" as defined by the Companies Act.

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