Definition of EGM
Extraordinary General Meeting. This is a special meeting of a company and its shareholders which can be called by company directors or anyone with at least 10% of the voting rights on the company's shares. EGMs are often called to pass certain special resolutions (eg to approve a takeover or break-up of the company). For special resolutions to be passed, 75% or more of the shareholders have to vote in favour.
See our full Online Financial Glossary