Thursday 28 Mar 2024
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SINGAPORE (March 31):  Singapore Exchange (SGX) and the Chartered Secretaries Institute of Singapore (CSIS) have launched an online calendar for listed companies to indicate their tentative Annual General Meeting (AGM) dates.

This initiative is in response to feedback that many AGMs are clustered around the last two weeks of April. If AGMs are more evenly spread out throughout April, investors will be able to attend a higher number of AGMs to exercise their shareholder vote. SGX says.

Some 97 companies have scheduled their AGMs in April on the calendar.

The clustering of AGMs is common in most global markets, and arises from the December financial year-end of most companies. About 60% of SGX-listed companies end their financial year on Dec 31 and therefore have up to April 30 of the following year to hold their AGMs.

The AGM calendar is hosted on the website of CSIS, previously known as the Singapore Association of the Institute of Chartered Secretaries & Administrators (SAICSA).

Companies may indicate their tentative AGM dates on the calendar, and update the dates upon confirmation of their AGM details.

The calendar will help companies to schedule their AGMs on days which are either free of other AGMs, or when there are fewer AGMs taking place.

Companies must continue to make announcements on their AGM via SGXNet.

“Active shareholder participation is important for our disclosure- based regime and the market to progress. Attending AGMs enables investors to exercise their voting rights, ask questions and clarify concerns with the board and senior management of companies they have invested in. The clustering of AGMs occurs in most global markets and is of great concern to investors. We hope companies will participate in this online calendar so as to aid their investors and the market as a whole,” said Tan Boon Gin, Chief Regulatory Officer of SGX.

The calendar is found at: http://www.saicsa.org.sg/english/news/calendar.asp.

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