Show of hands - one shareholder one vote? Can somebody explain more about this?
" Voting at general meetings can be done in two different ways. Many resolutions are decided by a show of hands. This will give each shareholder one vote, regardless of the number of shares held. It is a useful practice for the passing of routine resolutions where there is no (or very little) opposition, but does not reflect the actual voting strength of individual shareholders. For this to be done, there must be a poll, by which the actual votes owned by each shareholder voting are counted.
By CA 2006, sec321 any five or more members, or the holders of not less than 10% of the voting rights can demand a poll (except on resolutions to elect a chair or to adjourn)..."
Source: https://www.companylawsolutions.co.uk/topics/what_voting_rights_do_shares_have.shtml
What our by-laws say?
This is from another company by-laws:
15.1 At all meetings of members every question shall be decided by a majority of votes of the members present in person or represented by law. Every question shall be decided in the first instance by a show of hands unless a poll be demanded by any member. Upon a show of hands, every member having voting rights shall have one vote, and unless a poll be demanded a declaration by the Chairperson that a resolution has been carried or not carried and an entry to the effect in the minutes of the Corporation shall be admissible in evidence of prima facie proof of the fact without proof of the number or proportion of the votes accorded in favour of or against such resolution. The demand for a poll may be withdrawn, but if a poll is demanded and not withdrawn, the question shall be decided by a majority of votes given by the members present. Such poll shall be taken in such a manner as the Chairperson shall direct and the result of such poll shall be deemed the decision of the Corporation in a general meeting upon the matter in question. In case of an equality of votes at any general meeting whether a show of hands or at a poll, the Chairperson shall be entitled to a second or casting vote.