Quorum

The number of shareholders or directors at board meetings who must be present at a meeting to allow proceedings to be validly and effectively conducted. The quorum required for a meeting of a company's shareholders and directors is usually two persons present in person or for shareholder's meetings by proxy. The quorum can be varied to suit particular needs and the requirements are contained in the Articles of Association. Any resolutions passed at a meeting without the required quorum are invalid, but may be notified at a subsequent quorate meeting.