Permanent Quorum Proxy

 

To ensure our annual meeting of co-owners starts on time and to avoid costly adjournments for lack of quorum, we are adopting the permanent quorum proxy system.

 

What is a Permanent Quorum Proxy?

A Permanent Quorum Proxy consists of each co-owner issuing a proxy to the board of directors EXCLUSIVELY to be applied to the quorum at the annual general assembly – nothing else.

 

If a Co-Owner Provides a Permanent Quorum Proxy Can She/He Still Attend the AGM?

Absolutely, the Permanent Quorum Proxy is only to achieve quorum. The only restriction is that the meeting will most likely begin on time – so don’t be late.

 

If a Co-Owner Provides a Permanent Quorum Proxy Can She/He Still Speak at the AGM?

Absolutely. The co-owner gives up absolutely no rights. The only change is that we are assured in advance the meeting will proceed.

 

If a Co-Owner Provides a Permanent Quorum Proxy Can She/He Still Vote at the AGM?

Absolutely. No rights are eliminated by the Permanent Quorum Proxy. However, there is less urgency to give your proxy to someone else if you cannot attend.

 

If a Co-Owner Provides a Permanent Quorum Proxy Can She/He Still Give the Voting Rights to Someone Else?

Certainly. The Permanent Quorum Proxy only covers Quorum. Regular Proxy forms will be distributed as always.

 

Where Are the Permanent Quorum Proxies Stored?

They will be stored in a binder in the office along with all other legal documents of the syndicate. The binders will be brought to the AGM so that the auditor may confirm their validity.

 

Can a Co-Owner Revoke a Permanent Quorum Proxy?

Permanent Quorum Proxies NEVER EXPIRE and carry from one year to the next. However, a Permanent Quorum Proxy is legally like any other mandate and can be revoked at any time.

 

The Annual meeting is Usually in October – Why Now?

Because it will require months of effort to collect enough quorum votes to guarantee a quorum.

 

What Do I Have to Do Now?

Please sign the Permanent Quorum Proxy form as soon as possible and drop it in the administration mailbox. You will save us a lot of effort and the associated cost. Thank you!