IMPORTANT INFORMATION –
CHANGES TO THE SOCIETY’S AGM ON 21st APRIL 2021

As a result of the current Government COVID-19 restrictions the Society has taken the decision to hold this year’s Annual General Meeting (AGM) behind closed doors. This means members will not be able to attend the meeting.

How will the AGM be held?

The meeting will still take place at 7pm on 21st April 2021 but will be held virtually with only the Society’s Board and a small number of staff members in attendance. Please note, non-staff members will not be able to attend the meeting.

Can I still vote and ask questions at the AGM?

Yes. We strongly encourage members to vote either online or by post using the pre-paid envelope provided in your AGM pack. Please note, online votes must be received by midnight on Friday 16th April 2021 and postal votes no later than 5pm on Friday 16th April 2021.

You can submit a question to your Board by email or by writing to us using the details below. These should be submitted by 5pm on Tuesday 20th April 2021. We will respond to you separately after the AGM:

  • Email us at: agm@thetipton.co.uk
  • Write to us at: AGM, Tipton & Coseley Building Society, 70 Owen Street, Tipton, DY4 8HG

The results of the AGM will be posted on the Society’s website and in branches on 23rd April 2021.

Notice of Annual General Meeting

Please note, due to the current COVID-19 restrictions it is expected this year’s AGM will be held behind closed doors and will not be open to members. If you have a questions you would like to raise at the AGM please email it to AGM@thetipton.co.uk, post it to the Society Secretary, Tipton & Coseley Building Society, 70 Owen Street, Tipton, DY4 8HG, or drop it into one of our branches. We will provide a response to you directly.

The 120th Annual General Meeting (AGM) of the Tipton & Coseley Building Society will be held on Wednesday 21 April 2021, at Tipton Sports Academy, Wednesbury Oak Road, Tipton, DY4 0BS at 7pm if permitted.

The AGM is your opportunity to consider and vote on the following matters:

Ordinary resolutions

  1. To receive the Directors' Report, Annual Accounts, Annual Business Statement and Auditor's Report for the year ended 31 December 2020.

Refer to the Summary Financial Statement for a summary of these items. The full Annual Report and Accounts will be available from our Head Office, at any branch, at www.thetipton.co.uk or by calling 0121 557 2551, from 29 March 2021.

  1. To approve the Report of the Remuneration Committee for the year ended 31 December 2020.

This vote is advisory. The Directors’ Remuneration Report appears in both the full Annual Report and Accounts and the Summary Financial Statement.

  1. To re-appoint BDO LLP as auditors of the Society.

As a building society we are required by law at each AGM to appoint external auditors who are to hold office until the end of the next AGM. The Board is proposing the re-appointment of BDO LLP as our Auditors for the financial year ending 31 December 2021.

Special resolution

  1. To adopt changes to the Rules as set out in this Notice of Annual General Meeting.

The Society is proposing a number of amendments to its Rules in response to the COVID-19 pandemic as well as an amendment to reflect the requirements of The Mental Health (Discrimination) Act 2013. Further details are provided within this Notice.

Re-election of directors

  1. To re-elect Myron Hrycyk
  2. To re-elect Richard John Newton

When proposing Directors for re-election the Board carefully considers succession, skills mix and the individual contribution of each Director. You can find out more about the Directors standing for re-election in the Summary Financial Statement.

Your Board recommends that you vote for all of these resolutions and the re-election of Directors.

By order of the Board

Adam Evetts, Secretary, 25 February 2021

Notes

The following notes form part of the Notice of Annual General Meeting.

  1. You are encouraged to vote in person by attending the Annual General Meeting. Alternatively, you may use the proxy voting form or go online to appoint a proxy to attend and vote at the Meeting on your behalf. You may appoint the Chairman of the Meeting or anyone else as your proxy, and your proxy does not have to be a member of the Society.
  2. Your proxy may vote for you at the Meeting, but only on a poll. You may direct your proxy how to vote at the Meeting.
  3. Your proxy may not speak at the Meeting other than to demand or join in demanding a poll.
  4. If you appoint a proxy and they do not attend the Meeting, then your vote cannot be counted.

Ordinary Resolutions

Ordinary resolutions will be passed if a majority of members who vote, vote in favour.

Special Resolution

The Society is proposing a number of amendments to its Rules in response to the COVID-19 pandemic and the subsequent restrictions that meant the Society was unable to allow members to attend the 2020 AGM. We are proposing:

  • to allow members’ meetings, at the discretion of the Board, to be held electronically and/or in more than one physical location;
  • to clarify the procedures for adjourned meetings;
  • to clarify the quorum requirements for meetings; and
  • to improve the requirements regarding giving notice of meetings in the event of disruption to postal services.

We are also proposing to amend the Rules regarding the removal of Directors to reflect the requirements of The Mental Health (Discrimination) Act 2013. There are also some re-numbering and minor typographical changes to the Rules. A full copy of the Society’s Rules with the proposed alterations highlighted is available here or alternatively you can request a copy by emailing us at agm@thetipton.co.uk, calling into our Head Office or contacting the Society’s Secretary by calling 0121 557 2551. It is intended that, if the alterations to the Rules are agreed at the AGM, they will take effect (subject to registration by the Financial Conduct Authority) on 1 June 2021.

The special resolution will be passed if more than three-quarters of members who vote, vote in favour.

The Board believes that these amendments are in the interests of members and recommend that you vote FOR them.