Providing shareholders with the opportunity to participate effectively in, and vote at, general meetings is a principle echoed in the Code of Corporate Governance. The accompanying Practice Guidance to the Code of Corporate Governance also provides that companies should use their best endeavours to avoid scheduling general meetings during peak periods.
An issuer’s annual general meeting (AGM) is an event keenly anticipated by many shareholders in each calendar year. AGMs serve as an important platform to enhance communication between shareholders, and the issuer’s board of directors (board) and management. It provides an avenue for shareholders to receive updates from the board and management, vote on key matters as well as engage in direct dialogue with them. It is therefore important that shareholders can attend the AGMs of all the issuers that they hold shares in.
To facilitate interaction with shareholders, the SGX-ST Listing Rules further prescribe certain requirements relating to general meetings, including requiring primary-listed issuers to hold their AGMs in Singapore, unless prohibited by relevant laws and regulations in its jurisdiction of incorporation. In line with this, SGX RegCo, together with the Securities Investors Association (Singapore) and the Singapore Institute of Directors, have also published the second edition of the Guide on Best Practices for Shareholder Meetings of Listed Companies.
