Did MCO apply for an extension of time to hold its AGM? The Corporations Act 2001 requires public companies to hold an AGM within five months after the end of its financial year. In MCO's case this should have been on or before 30Nov. The penalty for failing to hold an AGM on time is $1000 or imprisonment for three months or both. An application may be made to ASIC to extend the date of the AGM but must be made before the end of the period within which the meeting would otherwise be required to be held.
So, did Nick apply for an extension? I don't think that the fact that MCO is in voluntary suspension would excuse MCO from holding an AGM however, someone may wish to correct me if I am wrong.
MCO Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
