What is an AGM?
An AGM is a yearly meeting that companies hold to discuss important matters with their shareholders. You can think of it as a way to make sure everyone is on the same page. All the shareholders can be updated on the company’s financial health, performance, and future plans. It’s also when important decisions, such as electing directors, are made.
Do all companies need to hold an AGM in Singapore?
Not necessarily! It depends on your company structure. If you’re running a private limited company, you may be exempted from holding AGMs given:
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- All shareholders agree to waive the AGM requirement.
- Your company sends out its financial statements within 5 months after the financial year ends.
For public companies, AGMs are mandatory. You are required to conduct it once a year, within 6 months after the end of your financial year.
What happens during an AGM?
Here is a typical agenda of an AGM:
Presenting financial statements
Director updates
New directors may be elected, or existing ones reappointed.
Auditor updates
Shareholder questions
Shareholders can ask questions and raise any concerns
Voting
If this sounds too overwhelming, don’t worry! By hiring corporate secretaries like our experienced team at ScAilable, they’ll help you manage AGMs, filings, and compliance.