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DBS suspends in-person registrations for AGM amid virus outbreak
DBS will suspend registrations for in-person attendance at its annual general meeting (AGM) next week, after the government laid down stricter measures on Tuesday to contain the Covid-19 outbreak, which include deferring or cancelling all events and mass gatherings, regardless of size.
The meeting is scheduled to be held at 2pm on March 31.
Earlier on Tuesday, the bank had announced that it will accommodate up to 249 pre-registered physical attendees - in line with the health ministry's earlier stipulation to suspend events and gatherings with 250 or more participants - while putting in place measures to limit contact among these attendees and providing a live webcast option. These plans were waylaid, following the new slew of safe distancing measures announced late Tuesday evening.
In response to queries, a DBS spokesperson said: "With the Ministry of Health’s stricter measures announced in the evening of 24 March, we are re-assessing our AGM plans. We are suspending registrations for in-person attendance, but will continue to accept registrations for the live webcast option at the following website until further notice."
The bank plans to update its shareholders on revised meetings plans by Thursday.
DBS's last general meeting was held on April 25, and saw a turnout of over 1,000 shareholders.
In the interest of public health and well-being of respective shareholders, the Singapore Exchange Regulation had urged companies to adopt digital tools to conduct their AGMs amid the epidemic. Last month, the regulatory body had also announced that some listed firms here can have up till June 30, 2020 - a two-month extension - to hold their AGMs and approve financial results.