Revised Laws of Saint Lucia (2021)

117.   Non-compliance with proxy solicitation

A company is not required to comply with section 115(2) if—

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    (a)     the proposal is not submitted to the company at least 90 days before the anniversary date of the previous annual meeting of shareholders of the company;

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    (b)     it clearly appears that the proposal is submitted by the shareholder primarily for the purpose of enforcing a personal claim or redressing a personal grievance against the company or its directors, officers, shareholders or debenture holders or primarily for the purpose of promoting general economic, political, racial, religious, social or similar causes;

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    (c)     the company, at the shareholder's request, included a proposal in a management proxy circular relating to a meeting of shareholders held within 2 years preceding the receipt of that request and the shareholder failed to present the proposal, in person or by proxy, at the meeting;

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    (d)     substantially the same proposal was submitted to shareholders in a management proxy circular or a dissident's proxy circular relating to a meeting of shareholders held within 2 years preceding the receipt of the shareholder's request and the proposal was defeated; or

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    (e)     the rights conferred by that subsection are being abused to secure publicity.