Good afternoon, and welcome to the Extraordinary General Meeting of Shareholders of Cazoo Group Ltd, which I will hereinafter refer to as the EGM. I am Gareth Purnell, Chief Financial Officer of Cazoo Group Ltd, and I have been appointed as chairman of the EGM by the board. Thank you for joining us today. We are including a virtual format for this meeting, which allows us to be more inclusive and reach a greater number of our shareholders. We have shareholders attending via the web portal. We will conduct the business portion of our meeting first and answer questions at the end of the meeting. In keeping with the digital approach to this meeting, it is now 2:01 P.M. in London on July the second, twenty twenty-four, and this meeting is officially called to order. The company has appointed Broadridge Financial Solutions to act as Inspector of Election.
Tracey Oates is with us today and has taken the oath of Inspector of Election. After the formal meeting has been adjourned, we will provide time for general questions. Please note that the virtual component of this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. The board of directors fixed 31st of May, 2024, as the record date for determining shareholders entitled to vote at this meeting. The shareholder list that shows that as of the record date, there were 4,898,984 Class A ordinary shares outstanding and entitled to vote at this meeting.
We are informed by the Inspector of Election that there are represented in person or by proxy, Class A ordinary shares, representing 3,587,494 votes, or approximately 73% of the voting power on the record date. Since this represents more than one-third of the voting power of all issued and outstanding Class A ordinary shares entitled to vote on the record date, a quorum is present for purposes of transacting business. Now, I will present the matters to be voted upon.
Proposal one is an ordinary resolution to approve that the company be placed in voluntary winding up on the basis that it is unable to pay its debts, that Neema Griffin and David Soden be appointed joint voluntary liquidators, collectively, the voluntary liquidators of the company, with the power to act individually or jointly and severally, and the remuneration of the voluntary liquidators as set out in the schedule of hourly rates, the winding-up proposal. Proposal two is an ordinary resolution permitting the adjournment of the meeting to a later date or date, if necessary. It is now 2:04 P.M. in London on July second, twenty twenty-four, and the polls are now open. Any shareholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there.
Shareholders who have sent in proxies or voted via telephone or internet and do not want to change their vote, do not need to take any further action. Now that everyone has had the opportunity to vote, I declare the polls for the EGM closed. We have been informed by the Inspector of Election that the preliminary vote report shows that the winding-up proposal has been approved. We will be reporting the approval in a Form 6-K to be filed after this meeting. There being no further business to come before the meeting, the EGM is now adjourned. That concludes the meeting, and we thank you for your attendance today.