- Who is affected
- Directors and management of SGX-listed issuers, and their sponsors and advisers.
Summary
Background SGX RegCo had on 16 December 2021 issued an article in the Regulator’s Column on the expectations on the conduct of issuers’ general meetings amid the extension of the temporary legislative relief, where the legislation allows entities to hold general meetings via electronic means amid the COVID-19 situation, and will continue to be in force until revoked or amended by the Ministry of Law. SGX RegCo wishes to reiterate to issuers the importance of responding in a timely manner to shareholders’ questions, so that shareholders have the benefit of the responses to their questions before casting their votes on important resolutions.
Good practices for virtual general meetings As mentioned in the Guidance on the Conduct of General Meetings Amid Evolving COVID-19 Situation dated 1 October 2020 (“Guidance”), issuers are encouraged to adopt enhanced digital tools at their general meetings, such as allowing for real-time remote electronic voting and real-time electronic communication, to facilitate shareholder engagement. Issuers which do not utilise both (i) real-time remote electronic voting and (ii) real-time electronic communication at their general meetings, should incorporate the practices below in their conduct of general meetings, in addition to the checklist set out in the Guidance. This will take effect for any notice of general meeting served after 1 January 2022:
This update is a summary of publicly available regulatory guidance prepared by SAC Capital Private Limited for general information. It is not legal advice. Issuers should refer to the SGX Listing Rules and consult their sponsor or legal adviser.