extraordinary (adjective, ex-traor-di-nar-y, \ ˌekstrəˈɔːrdnˌeri \) general (adjective, gen-er-al, \ ˈdʒenərəl \) meeting (noun, meet-ing, \ ˈmiːtɪŋ \)
Definition: is an official meeting of a company’s stockholders (or shareholders) that is conducted in the timeframe between the two yearly general meetings. Such a meeting can be initiated only by directors and shareholders that together possess at least ten percent of the company’s voting rights. As evident from the name, these meetings usually occur on short notice and serve the purpose of dealing with a pressing problem, issue, or situation that oftentimes is related to the organization’s management.
In a Sentence:
- The CEO gathered the shareholders for an extraordinary general meeting to decide what should be done with two branch managers whose performance has been lacking recently. In the end, they decided to release both managers from their duties.
- During the last extraordinary general meeting, Fast Line’s shareholders discussed how the company should adapt to the new taxation regulations introduced by the government.
Synonyms and related words: general meeting, board meeting, breakout meeting, annual general meeting, coordination meeting
