Want to know how to Organize a Shareholder Meeting? First, you need to know what a shareholder meeting is.
The General Shareholders’ Meeting is a body of administration and control within the public limited company. Key decisions are made in the meetings for the progress and operation of the company.
The role of shareholder agreement and penalties for not attending AGM should be included in the minutes of Singapore AGM.
General shareholder meetings shall be ordinary or extraordinary. The ordinary ones will meet once a year, within three months of the end of the company’s financial year.
The extraordinary ones, when resolved by the Board of Directors, the President or the General Manager of the company, and in the other cases covered by the Companies Act and the statute.
Functions of AGM
The Singapore AGM (Annual general meeting) must perform the following functions:
- Appoint the principal and alternate directors of the Board of Directors and determine their remuneration. What to do when a company director resigns is also answered in Singapore AGM.
- Appoint the principal and alternate Commissioner of the company and set his remuneration.
- Know and approve the balance sheet, which will be accompanied by the state of loss and profits and the reports on social business that are submitted by the General Manager, the Commissioner and external auditors if any.
- Determine the form of sharing of social benefits, taking into account the proposal made by the Board of Directors.
- Determine the amortization of shares, as long as liquid profits are available for the payment of dividends.
- Decision-making on the extension of the social contract, early dissolution, increase or decrease in subscribed or authorized capital, and any reform of the bylaws.
- Selection of external auditors if required.
- Exercise the other functions that are established in the law and in the statutes of the company.
How to organize a Singapore AGM?
- Try to set the date of celebration of the event as soon as possible
- As quickly as to close the date proceed to the search of the premises. Combine the capacity of it, the equipment it can offer you and accessibility.
- Proceed well in advance to the definition of the image of the same, which will cause a unit in the treatment of all the media to be used.
- For this process, people usually have the help of a company specialized in this type of events, i.e., in General Meetings. If it is possible to have a single external partner of the act.
- Organize within the company a team of people from different areas of the company, and hold regular coordination meetings. Define well the responsibilities of each one, as well as have very well identified the person responsible. Make it equally clear who coordinates the act.
- Start drawing up the VIP guest list on the spot well in advance. Check with the Company’s Senior Management and try to agree with everyone on a single guest list, thus preventing the same person from receiving five invitations.
- Remember the media. You have to define both one camera area and one for written press.
- Take safety into account from the outset.
Guidelines to Consider on How to Organize a Shareholder Meeting
The guidelines to consider for the planning and coordination of the organization of the General Shareholders’ Meeting will be:
- Shareholders and other guests: accreditations, attendance control, lodging, transportation.
- Interventions: coordinating the different areas to intervene, as well as those of the President and Directors. Interventions by shareholders wishing to intervene will also be available.
- What to do when a company director resigns without valid reasons should be discussed in meeting.
- Documentation to be delivered: the preparation and delivery of Annual Report.