Companies continue to cluster AGMs around same days in April: report

SINGAPORE-LISTED companies continued to cluster their annual general meetings (AGMs) and extraordinary general meetings (EGMs) around the same few days in April last year.

The Singapore Report on Shareholder Meetings: Dawn of Activism covered 895 meetings - 694 AGMs and 201 (EGMs) - conducted during 2016 by 703 issuers with a primary listing on the Singapore Exchange (SGX).

It said there were 433 shareholder meetings held in April 2016, of which 428 were AGMs and five were EGMs. These accounted for 62 per cent of all AGMs and nearly 50 per cent of all shareholder meetings last year.

The number of meetings held in the last two business days of April was significantly higher than in the last two years. There were almost 100 AGMs on each of those two days, namely April 28 (Thursday) and April 29 (Friday), the report said.

The report was authored by corporate governance advocate associate professor Mak Yuen Teen and active investor Chew Yi Hong and released on Monday. It is the third such report in as many years, and continues to be supported by the SGX.