Sias issues guidance to shareholders for AGMs amid Covid-19 outbreak

Published Wed, Mar 25, 2020 · 08:38 AM

AS the annual general meeting (AGM) season for companies draws closer, the Securities Investors Association (Singapore), or Sias, has issued a guidance for shareholders to ensure compliance with the Ministry of Health's (MOH) advisory notices.

With companies required to restrict the number of AGM attendees to less than 10, shareholders, especially the elderly, are encouraged to avoid attending the meetings. 

Having said that, shareholders should continue to "monitor their investments and read the annual report", said David Gerald, president and chief executive of Sias, in a press statement on Wednesday. 

Questions should be directed to the company through the investors relations contact or email with at least one week notice. 

Shareholders should also keep track of the company announcements on the company website or company announcements on the Singapore Exchange (SGX) website. 

In addition, shareholders should continue to exercise voting rights by submitting proxy forms in writing in advance or through electronic means to appoint the chairman of the general meeting to act as proxy and direct the vote at the general meeting.

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"One of your key rights as a shareholder is the right to vote your shares on corporate elections and other resolutions," said Mr Gerald.

While shareholders should stay updated through AGMs that are broadcast online, they are reminded not to congregate to watch the webcast.

"Sias strongly advise all shareholders to utilise the options available to them by companies to participate at AGMs and understand that the precautionary measures are put in place for the safety of all stakeholders and your families. You should follow strictly instructions of the companies and the MOH advisory notices," said Mr Gerald. 

Read more: Coronavirus: ACRA, MAS to propose legislative amendments on conduct of shareholder meetings

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