International Journal of Advanced Legal Studies and Governance V. 1

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1 Int'l J. Advanced Legal Stud. & Governance 1 (2010)

handle is hein.journals/ijalsg1 and id is 1 raw text is:

SHAREHOLDERS' PARTICIPATION IN THE AFFAIRS
OF PUBLIC COMPANIES: AN INSIGHT

Lokulo-Sodipe, J. 0.
Department of Private and Business Law
University of lbadan, Ibadan, Oyo State, Nigeria
E-mail: jadesolals @gmail.com

ABSTRACT
The aim of this study was to have an insight into the
participation of shareholders in the affairs of public
companies. The information gathered in relation to
this study revealed that the only way shareholders can
actively participate in the affairs of public companies was
by attending the Annual General Meeting (AGM) and
exercise the powers reserved for them. However, as a matter
of law, there is no enforceable obligation on the shareholders
to attend the AGM of their companies for that matter, or
indeed, actively participate in the affairs of the company,
but such shareholders remain bound by any decision the
meeting may take, their nonparticipation notwithstanding.
Conclusively, the study submitted that active participation
of shareholders in the AGM is capable of saving their
companies from possible lapses that may be as a result
of mismanagement. Therefore shareholders should attend
meetings of their companies, mostly the AGM.
Keywords: Shareholders, participation, affairs, public
companies

International Journal of Advanced Legal Studes and Governce Vol. 1 No.1, April 20101