Annual General Meeting (AGM) is a compulsory gathering of all the shareholders and the board of directors of the company at the end of every year. In this meeting, the board of directors present the annual performance report of the company to the shareholders. It is very important that the annual general meeting is conducted every year at the right time. The AGM talks about all the interests, performance, and strategies of the company. However, due to covid-19 pandemic, not every organization was able to conduct the AGM.
The modern problem calls for a modern solution. Hence, the government of Singapore on 7th April 2020 passed a new law giving access to the companies to conduct virtual AGM. Under this law, the registered companies and societies were permitted by the government to conduct annual general meetings via video conferencing or live stream. The annual general meeting is of top confidentiality to the shareholders and the board of directors of the company. Therefore it’s necessary to have a secure and reliable source to conduct virtual meetings. Many factors need to be considered and evaluated before conducting a virtual AGM singapore.
Factors to be considered before conducting virtual AGM
- Safety of the information passed on in the virtual AGM. Check whether or not the medium used to conduct the virtual annual general meeting is a safe mode to discuss the company’s information.
- Make sure you pass the entry code and the passcode of the meeting to the right set of people because the passcode and the entry code are the direct keys to all the confidential information of the company.
- Check the details of the agencies you are outsourcing to carry out the AGM of the company. The medium you use should be reliable and trustworthy website or virtual agency.
- Check the features and benefits the agencies are offering to conduct the virtual AGM at their website.