ICSA has published a guidance note regarding the revised wording in provision E.2.4 of the UK Corporate Governance Code relating to the notice period for general meetings, other than the annual general meeting.

The new provision provides that for 'other general meetings', at least 14 working days' notice must be given. This is longer than the statutory notice period of 14 clear days' notice for general meetings. Note that the guidance states that the Code provision refers to the notice being sent to shareholders 14 working days before the meeting - which excludes the date of the meeting.

Amongst other things, ICSA notes that, whilst companies will not use the option to provide the shorter 14 days' notice unless it is necessary, it is helpful for shareholders to receive as much notice as possible. Additionally, as a general rule, ICSA would expect a company will only use the reduced notice period where there is a need for urgency. Consequently, an explanation of these circumstances will be required where the company does not comply with provision E.2.4.

The guidance note can be found here.