The members have passed the “Extraordinary Resolution” sent out by the Committee on the 10th April 2020.
The resolution changes the wording of the Articles of Association to ensure we are correctly classified as a mutual and not subject to tax. The detailed explanation of the changes and the justification for making them can be made available. If you haven’t already seen them, or want any other details please contact a director.
The directors presented the amendment at last year’s AGM. It failed to pass then because we were one member short of the 75% required. The vote on the “Extraordinary Resolution” was formally set to finish on the 8th May 2020, or when we have 28 votes in favour, whichever occurs first.
We have now reached the required number of votes, so voting is complete and the resolution passed.