Guidance has been published that sets out the options available to companies when holding AGMs in light of the challenges presented by the coronavirus situation.
The report outlines five options that companies can take:
- Adapt the basis on which they hold the AGM
- Delay convening the AGM, if notice has not yet been issued
- Postpone the AGM, if permitted under the articles of association
- Adjourn the AGM
- Conduct a hybrid AGM, if permitted under the articles of association
UPDATE (27 March 2020)
A supplement to this guidance has now been launched which offers suggestions as to how listed companies might implement contingency plans in light of the current ‘Stay at Home’ Government measures
It offers advice on:
- how to ensure that the meeting is quorate,
- who should chair the meeting,
- which directors will be allowed or expected to attend the general meeting and
- where to hold the meeting in the event of the planned venue being unavailable or otherwise inaccessible, and
- encouraging shareholders to vote by proxy
Read the additional guidance here
This guidance has been produced by The Chartered Governance Institute with the support of a collection of legal firms as well as organisations like the FRC, the Investment Association, and the QCA. The Department for Business, Energy and Industrial Strategy has also reviewed the guidance.
If you have any questions or if there are other areas where you would like guidance in relation to the current circumstances, please let us know. Note that QCA members are invited to use the Investor Meet Company platform for free to enable company and investor engagement – see here
