There shall be an annual meeting of the Unitholders for the purpose of:
(i) presentation of the financial statements of the Trust for the immediately preceding fiscal year; (ii) appointing the auditors of the Trust for the ensuing year; (iii) directing and instructing the Trustee as to the manner in which the Trustee shall vote (or how to compel the voting for) as agent for the Unitholders pursuant to the Voting Agreement for the election of the Administrator Directors; and (iv) transacting such other business as the Trustee may determine or as may be properly brought before the meeting. Pursuant to the Voting Agreement, the Administrator Shareholder will agree to vote its shares in the Administrator at the direction of the Unitholders, as communicated by the Trustee as agent for the Unitholders, with regard to, among other things, the election or removal of the Administrator Directors and the appointment of an auditor of the Administrator from time to time.
A special meeting of Unitholders may be convened at any time and for any purpose by the Trustee or the Administrator and must be convened, except in certain circumstances, if requisitioned inwriting by the Unitholders representing not less than 20% of all votes entitled to be voted at a meeting of Unitholders.
Unitholders may attend and vote at all meetings of the Unitholders either in person or by proxy. A proxyholder will not be required to be a Unitholder. Two or more persons present in person and being Unitholders or representing, by proxy, Unitholders who hold in the aggregate not less than 10% of all votes entitled to be voted at a meeting of Unitholders shall constitute a quorum for the transaction of business at all such meetings. The Trust Indenture contains provisions as to the notice required and other procedures with respect to the calling and holding of meetings of Unitholders.
Due to the CCAA process and the sale of all the oil and gas assets that was completed on May 17, 2016, there is no AGM currently scheduled for 2016.
©2016 Argent Energy Trust