Preparing for the AGM
It helps to plan early and to fully engage the board, says PENELOPE PHOON
AS we enter the month of April and the annual general meeting (AGM) season, many companies are busy preparing to face investors with their annual report card. A joint study in 2012 by the Association of Certified Chartered Accountants and KPMG found that 63 per cent of all AGMs conducted by Singapore listed companies are held in April, with 47 per cent occurring in the last five days of April alone.
Here are some fundamentals to note in preparing for AGM day.
Plan early: The closing and clearing of financial accounts usually drive the critical path from financial year-end to the AGM date. However, there are other important timelines. Company secretaries will be familiar with the various corporate regulatory requirements and notice periods. Most of these are sorted out and completed in the two months before the AGM date.
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