SGX RegCo grants automatic 60-day extension for issuers to hold AGMs

This follows after the regulator gave a two-month extension for AGMs last February.

Singapore Exchange Regulation (SGX RegCo), in consultation with the Accounting and Corporate Regulatory Authority (ACRA) and the Monetary Authority of Singapore (MAS), will automatically extend by the deadline of holding annual general meetings by 60 days, an announcement revealed.

This applies to issuers with financial year-end (FY-end) on or before 31 March. Issuers must issue their annual reports to shareholders and the exchange at least 14 days before the date of the AGM, except for issuers with 31 December 2019 FY-end, which will still need to issue their annual reports by 15 April.

Also read: SGX RegCo gives two-month extension for AGMs

ACRA will also grant an extension of 60 days for all companies whose AGMs are due from 16 April to 31 July.

Issuers will need to notify SGX RegCo by email to automaticagmwaivers@sgx.com, and announce via SGXNet their relevant FY-end and the indicative timeline to convene their AGM as well as the board of directors’ confirmation that the time extension will not be in contravention of any laws and regulations governing the issuer and its constitution.

SGX RegCo encourages issuers to provide at least 21 days’ notice to shareholders on the general meetings to allow shareholders to consider the matters, to pose questions if necessary and vote via proxy.