Azeus Systems launches new e-AGM product amid Covid-19 pandemic

Published Mon, Apr 27, 2020 · 01:32 PM

SINGAPORE-listed Azeus Systems Holdings has launched a new product that promises to enable listed companies to hold electronic annual general meetings (AGMs) from multiple remote sites.

The Hong Kong-headquartered provider of IT consultancy services said its product means companies will be able to arrange and hold their AGMs remotely and electronically, in a manner compliant with the relevant rules and regulations. Shareholders and relevant parties such as share registrars and scrutineers will also be able to participate in the proceedings.

With listed companies facing pressure and difficulty in organising AGMs amid the Covid-19 outbreak, stock exchanges and regulatory authorities have recently issued guidelines and changes to the rules and regulations for such meetings to be conducted during this period.

Azeus is "test marketing" the product, but since it is new to the market and its adoption is unknown at this point in time, the company does not expect its contribution to be material in the near term.

Azeus said that it is "cautiously optimistic", given the demand for products for holding AGMs remotely, especially during this pandemic.

Lee Wan Lik, managing director of Azeus, said: "The latest launch of the new e-AGM product is in line with our direction to grow the Azeus products business segment, which provides the group with a steady stream of recurring income. The group will continue to aggressively build and strengthen its sales and marketing capacity to secure a greater market share for Azeus products."