AGMs: there are no statutory requirements on private companies to hold annual general meetings (AGMs), so companies will only have to hold one if their Articles provide for this. This would be unusual, as the Model Articles don’t have this requirement. Usually, shareholders will only need to meet to make decisions on particular matters. The Companies Act 2006 sets out a limited number of decisions that are for shareholders to make, either through ordinary or special resolution, such as changing the Articles of Association, appointing or removing directors or alterations to share capital.
A lot of companies however also have shareholder agreements in place which add to the areas where shareholder consent is required.
Helpfully, in the case of private companies most decisions can be made by passing written resolutions, so shareholder meetings are not required and written resolutions can be circulated and signed via email. It may however be that the shareholders want to hold a meeting to fully discuss issues.