ARTICLES OF ASSOCIATION

The company recently overhauled its Articles of Association and those can be found here.  The Articles contain various details on how the company operates, for example:

  1. Appointing Directors:  Directors can be appointed by the existing Board or by an Ordinary Resolution of the shareholders (i.e. greater than 50% in favour);
  2. Size of Board:  To make decisions there must be at least three Directors.  The company cannot appoint more than seven Directors;
  3. Director Qualification:  Directors must either reside or own a property on the Triangle estate;
  4. Terminating Directors:  Directors can either retire or, in more extreme circumstances, be removed by an Ordinary Resolution;
  5. General Meetings:  There is no requirement to hold an AGM but a GM can be called by any group of shareholders controlling three or more shares.

 

Beyond these formal rules there are a number of other practices.  For example, though it is not technically required to do so, the Triangle has now started having its accounts audited.  Likewise, there are guidelines on composition of the Board, the objective being to have two Directors from Randolph Crescent and Randolph Avenue and three from Clifton Gardens in order to balance the representation.

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