General Announcement::Companies begin scheduling AGMs with SGX and CSIS calendar

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
31-Mar-2016 17:09:05
Status
New
Announcement Sub Title
Companies begin scheduling AGMs with SGX and CSIS calendar
Announcement Reference
SG160331OTHRHQJA
Submitted By (Co./ Ind. Name)
Carolyn Lim
Designation
VP, Marketing & Comms
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) and the Chartered Secretaries Institute of Singapore (CSIS) have launched an online calendar for listed companies to indicate their tentative Annual General Meeting (AGM) dates. 97 companies have thus far scheduled their AGMs in April on the calendar.

This initiative is in response to feedback that many AGMs are clustered around the last two weeks of April. If AGMs are more evenly spread out throughout April, investors will be able to attend a higher number of AGMs to exercise their shareholder vote.

The clustering of AGMs is common in most global markets, and arises from the December financial year-end of most companies. About 60% of SGX-listed companies end their financial year on 31 December and therefore have up to 30 April of the following year to hold their AGMs.

The AGM calendar is hosted on the website of CSIS, previously known as the Singapore Association of the Institute of Chartered Secretaries & Administrators (SAICSA). Companies may indicate their tentative AGM dates on the calendar, and update the dates upon confirmation of their AGM details. The calendar will help companies to schedule their AGMs on days which are either free of other AGMs, or have fewer AGMs occurring.

Companies must also continue to make announcements on their AGM via SGXNet. Companies are also encouraged to help shareholders who are unable to personally attend AGMs by having webcasts or video conferences of their AGM, if possible.

Active shareholder participation is important for our disclosure-based regime and the market to progress. Attending AGMs enables investors to exercise their voting rights, ask questions and clarify concerns with the board and senior management of companies they have invested in. The clustering of AGMs occurs in most global markets and is of great concern to investors. We hope companies will participate in this online calendar so as to aid their investors and the market as a whole, said Tan Boon Gin, Chief Regulatory Officer, SGX.

Dr Tan Wee Liang, Chairman of CSIS, said, The goal of this initiative is one that is laudable. Chartered Secretaries Institute of Singapore (CSIS) sees value in allowing investors to participate in AGMs. For this to happen, AGMs should not be clustered together. Shareholders should be able to travel between AGMs. Granted that ensuring AGMs are spread out through the month is difficult to coordinate because of the tasks that have to be completed before AGMs can be organised, this calendar is a worthwhile endeavour. The AGM Calendar, an initiative between SGX and CSIS, is a good start to provide indicative information for companies in their scheduling of AGM.


The calendar is found at: http://www.saicsa.org.sg/english/news/calendar.asp.

Listed companies which want to enter their AGM dates onto the calendar should contact:

Chartered Secretaries Institute of Singapore (CSIS)
Koh Han Ming
+65 63344302
education@saicsa.org.sg

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