With the circuit breaker arrangements in Singapore, AGMs are recommended to be conducted via live webcast. There are multiple new complexities in conducting your company AGM. Our team can work with you to understand the intricacies of your requirements.
In this article, we offer key updates from the SGX press release. This article is non-exhaustive and is provided as a quick reference. You are advised to read the full requirements and checklist published on SGX website.
AGM Can Still Be Held
Meetings can still be held in accordance with existing law or legal instruments, if doing so would not breach prevailing safe distancing measures. However, if you are unable to comply, you can consider deferring your meeting.
Max. of 6 Persons At A Location
Based on an update by SGX on 13 Apr 2020, the maximum number of persons at the same physical location must not exceed 6. This includes the admin staff and camera crew.
Comply With Safe Distancing
Arrangements at the physical location must comply with existing safe distancing guidelines. An all-encompassing document can be accessed via this link.
Notable points from the document are as follows:
- Allow natural ventilation of the premises during the event
- Temperature taking for all parties entering the venue
- Record of individual contact details
- Refuse entry to individuals showing symptoms
- Each seat to be at least 1M apart
Board of Directors & Statutory Auditors Should Attend
For issuers, the Board of Directors and the statutory auditors should attend the general meetings. Their attendance and right to be heard may be satisfied by electronic means.
Our team will be able to link remote locations within a single live webcast, with or without a videographer and respective crew.
Live Webcast of Your AGM
The live webcast must contain audio and visual. We can provide arrangements for on-site or remote meetings. For on-site meetings, we can make arrangements with our without a dedicated corporate videographer and camera crew. Our crew can also operate remotely if required. Our arrangements are customised based on your requirements.
The live webcast will be password protected, each individual attendee will require to register prior to viewing the webcast.
Live Audio Feed of Your AGM
In addition to the live webcast with visual and audio, you are required to provide a live audio feed. We are able to provide a Singapore based telephone number to broadcast the live audio feed of your meeting. The access is password protected.
AGM Webcast – No Cost To Shareholders
The live webcast of your AGM must be made available to shareholders and members at no cost to them.
Send Notices At Least 14 Days Prior
For both issuers and non-listed companies, all notices convening general meetings must be sent to shareholders and members at least 14 calendar days (or 21 calendar days, where special resolutions are proposed) before the meeting. In each case, the notice period excludes the date of the notice and the date of the meeting. Issuers are strongly encouraged to provide at least 21 calendar days’ notice to shareholders.
Include In Your Notice
- Date & time of the meeting
- Resolutions to be proposed
- Particulars of the electronic means by which meeting is conducted
- Link to live audio & video stream (webcast)
- Link to live audio only link (e.g. telephone number)
- Registration instructions
- Instructions on accessing meeting documents
- Instructions on how to submit questions
- Instructions on casting their votes
Receive Questions Electronically
Shareholders and members must be allowed to submit their questions via electronic means. They must be given the opportunity to ask questions within a reasonable time prior to general meetings. The cut-off time must be informed to them.
Receive Proxy Forms Electronically
Shareholders and members must be allowed to submit proxy forms through electronic means, such as a signed PDF document. Instructions and timeline must be specified to the shareholders and members.
If electronic voting is not possible, shareholders and members, including those attending the meeting physically must vote by proxy only. Only the chairman of the meeting may be appointed as proxy. Shareholders and members should specifically indicate how they wish to vote for or vote against (or abstain from voting on) the resolutions.
Quorum & Attendance
A shareholder or member is electronically present at a meeting if the person:
- attends by electronic means;
- is verified by the share registrar as attending the meeting by electronic means; and
- is acknowledged by the chairman of the meeting as present by electronic means.
To Publish on SGXNET
- All notices of general meeting of issuers
- All documents relating to the business of the general meeting
- Minutes of meeting within one month after the general meeting
SGX AGM Facilitation Grant
- SGX is giving up to S$5,000 per company to all qualifying Mainboard and Catalist companies, to help defray the costs of organising AGMs.
- Covers AGM-related expenses incurred between 16 March 2020 and 15 March 2021.
- Completed submissions by 5th of each month will receive reimbursement by end of following month.
- Only receipts are accepted, SGX do not accept quotations.
- Each listed company can only apply for the grant once
- Consolidate your receipts and submit in a single application
- The grant does not apply for EGMs
- Companies that are in arrears on any SGX-related fees will not qualify for the grant.
AGM Live Webcast Workflow
- Preliminary discussion to understand your requirements
- Provide quotation for your consideration
- Follow-up discussion on your arrangements
- Approval of quotation
- Preparation of digital resources
- Setting up of live webcast platform
- Providing information of live webcast link
- Pre-meeting day setup and rehearsal
- Actual meeting proceeding
- Provide recording of AGM
We can assist you in providing a live webcast of your Annual General Meeting.