An annual general meeting (AGM) is a mandatory yearly meeting to be held by a Public Company to gather all its shareholders to meet together and to vote and approve a list of agenda. At the AGM, the directors of the company lay an audited account which contains information on company’s performance and future prospect. Shareholders have the rights to vote for or against on all the agenda. The usual agenda for an AGM is to:

  1. Lay the audited financial statement and reports of the directors and auditors.
  2. Declare dividend payment.
  3. Approve directors’ fees.
  4. Re-elect the retiring directors.
  5. Re-appoint auditor and authorise the board to fix their remuneration.
  6. Any resolution or other business of which notice is given.

A public company must hold its first Annual General Meeting (AGM) within 18 months from its incorporation date and subsequently not more than 15 months after the holding of the last preceding AGM pursuant to Section 340(3) and 340(2)(b)of the Companies Act, 2016.  However, the company shall hold its AGM within 6 months from each of its financial year end pursuant to Section 340(2)(a) of the Companies Act, 2016. As such, the deadline of a company’s to hold its AGM is determined on the basis that whichever is due earlier from the said sections with the condition that the company should hold its AGM in every calendar year except for the first year.

Before determining the deadline of the Company, please fix your Company’s financial year end and update us. An email alert will be sent to you to remind you of the deadline and advise you accordingly your next course of actions.