Annual General Meeting of Shareholders

According to Singapore Company Law, Singapore companies must hold an Annual General Meeting, or AGM. If the company's shareholders decide not to hold an AGM, all matters that need to be dealt with can be handled in the form of written resolutions.

Understanding the Shareholders' Meeting



Singapore companies must hold an annual general meeting of shareholders every year, which gives shareholders the right to participate and express their opinions. One of the main issues discussed at the annual general meeting is the company's financial report. Shareholders use multiple digits as the basis for resolution, which means that more than 50% of the approval is considered passed. Newly registered companies must end their first financial year within 18 months and hold a general meeting of shareholders within 6 months after the end of the year.



Understand the conference process



The company representative will explain the financial statements to shareholders and company members and answer any questions about the company's business and financial statements. Usually the chairman of the board of directors will serve as the chairman and lead the meeting. The company's legal secretary needs to prepare relevant documents for the shareholders' meeting.



Precautions



The meeting must only deal with resolutions that have been issued in accordance with the notice, usually resolutions on dividends, appointment of directors, appointment of audit firms, remuneration of directors and senior management, company financial statements, etc. The meeting must be determined to be a quorum for the meeting to be considered valid. The quorum is usually stated in the company's articles of association. If the company's articles of association do not explicitly state, the minimum number is two members of the company. Company members can appoint proxies to attend and vote at any meeting. Proxies do not have to be members of the company. The appointment procedure must be stated in the company's articles of association. The meeting must present the company's financial statements correctly, including financial statements, balance sheet, directors' report and auditor's report (if applicable). These materials must be sent to all members together with the notice 14 days before the annual general meeting to allow all members sufficient time to prepare in advance. The meeting must ensure that the resolutions of the meeting are passed by the company members voting. The company's articles of association cover this procedure. The end of the meeting must be recorded in writing and witnessed and signed by the company's chairman. After that, submit the annual return through Bizfile .