What should be on the agenda of an AGM?
This should include date, time, duration, venue, and information about the elections of officers. You could include the whole agenda or just highlight one or two items.
How do I prepare for an AGM meeting?
Preparing for Your Annual General Meeting
- Present the activities of the board for the previous year.
- Present the audited financial statements.
- Run elections for the board of directors.
- Appoint the financial reviewer for the next fiscal year.
What are the requirements of annual general meeting?
As per Companies Act, an annual general meeting must be held by every company once a year without fail. There cannot be a gap of more than 15 months between two AGMs. However, the first AGM of a company can be held at any date, within a period of 18 months, since the date of incorporation of the company.
What is the purpose of AGM meeting?
An annual general meeting, or annual shareholder meeting, is primarily held to allow shareholders to vote on both company issues and the selection of the company’s board of directors. In large companies, this meeting is typically the only time during the year when shareholders and executives interact.
What happens at a AGM meeting?
What happens at an annual general meeting? During an AGM, a company’s performance is analysed and its future strategy is discussed. Votes can also be held during an AGM, allowing shareholders to vote on company decisions, and fill any vacant positions on the board of directors.
How much notice do you need to give for an AGM?
An association’s constitution must specify the manner of calling an AGM and the manner in which notice of the AGM is given. If the Model constitution applies, members must be given at least 14 days’ notice of an AGM or 21 days’ notice if a special resolution is to be proposed.
Who attends annual general meeting?
The members (including shareholders) of the company are entitled to attend and vote at the AGM. Members can cast their votes by a physical ballot or postal ballot or through e-voting. Members can appoint proxies to attend an AGM and vote on their behalf.
Who can call annual general meeting?
Who can call an annual general meeting. The following people can call the annual general meeting: a voting member of the committee (usually the secretary) who has been authorised by the majority of the committee voting members.
Is an AGM a legal requirement?
There is now no statutory requirement for a private company to hold any general meetings, not even an Annual General Meeting. Some companies’ articles will require them to hold an AGM and any such provision will continue to be binding on the company until the articles are amended.
What is the quorum for annual general meeting?
Quorum Required for a General Meeting 5 members to be present if as on the date of the meeting being held, the number of members in the company does not exceed one thousand. 15 members to be present if as on the date of the meeting there are more that one thousand members but less than five thousand members.
Can an AGM be held electronically?
Some companies have held hybrid meetings with shareholders able to participate and vote electronically. Other companies have allowed shareholders virtual engagement with the AGM, for example livestreaming the meeting or having a virtual Q&A with the board.