Sunday, November 22, 2020, 09:43

The Accounting and Corporate Regulatory Authority (“ACRA”), the Monetary Authority of Singapore (“MAS”) and Singapore Exchange Regulation (“SGX RegCo”) have on 1 October 2020 updated the checklist to guide listed and non-listed entities on the conduct of general meetings to help keep physical interactions and COVID-19 transmission risks to a minimum. Issuers and non-listed companies may continue to conduct their general meetings held on or before 30 June 2021 via electronic means, and are encouraged to do so. 

Should issuers and non-listed companies, after due consideration of public health and other risks, wish to conduct physical general meetings, they must ensure that they implement all relevant measures to comply with the safe management measures imposed by the Singapore Government. Despite this, Issuers must continue to make available the option for shareholders to participate in their general meetings via electronic means.

The safe management measures includes the following:

  • the number of attendees at any permitted premise must be kept below the specified number of persons;
  • issuers and non-listed companies must ensure that attendees maintain the minimum specified safe distance between individual attendees; and
  • issuers and non-listed companies must ensure that all attendees wear a mask at all times or otherwise comply with any specified requirements. 

For conducting physical meetings, Issuers must also provide advance notice to shareholders to inform them on the number of attendees that can be accommodated at the venue and the shareholders must pre-register if they or their proxies wish to attend the general meetings in person.

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