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Section 289 of The Companies Act No. 17 of 2015: Power of members to require circulation of statements

    

(1) The members of a company may require the company to circulate, to members of the company entitled to receive notice of a general meeting a statement of not more than one thousand words with respect to—
(a) a matter referred to in a proposed resolution to be dealt with at that meeting; or
(b) in the case of a quoted company, a new item to be put in the agenda of the general nature of business to be dealt with at the meeting.
(c) other business to be dealt with at that meeting.
(2) A company is required to circulate a statement once it has received requests to do so from—
(a) members representing at least five percent of the total voting rights of all the members who have a relevant right to vote; or
(b) at least one hundred members who have a relevant right to vote and hold shares in the company on which there has been paid up an average sum, per member, of at least one thousand shillings.
(c) in the case of subsection (1) (b), by members representing at least five percent of the paid up capital of the company.
(3) In subsection (2), "relevant right to vote" means—
(a) in relation to a statement with respect to a matter referred to in a proposed resolution, a right to vote on that resolution at the meeting to which the requests relate; and
(b) in relation to any other statement, a right to vote at the meeting to which the requests relate.
(4) A request under subsection (2) is effective only if it—
(a) is in hard copy form or in electronic form,
(b) identifies the statement to be circulated;
(c) is authenticated by the person or persons making it; and
(d) is received by the company at least seven days before the meeting to which it relates.

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Disclaimer: This document is not to be taken as legal advise.

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