Annual General Meeting Season – a timely reminder
Corporate News - 10 August 2016
With the annual general meeting (AGM) season upon us, it is time for public companies with a financial year end of 30 June to start the process of annual reporting to members and calling an AGM to ensure they comply with the statutory requirement under the Corporations Act to hold an AGM within 5 months of the end of their financial year. For most companies, this means no later than 30 November 2016.
There are several important timing considerations when calling an AGM:
- Preparation: the time required to prepare the Notice will depend on the complexity of the approvals being sought.
- Regulatory approval: ASX and ASIC review, if required, can take up to 21 days combined (and longer in certain cases) and must be obtained prior to the Notice being printed and posted to members.
- Printing: The time required to print the Notice of Meeting.
- Notice: The statutory requirement that members are given at least 28 clear days’ notice of the AGM (or 21 days’ notice for unlisted public companies).
With all of this in mind, it is time to get started now and, as always, we are here to help so contact any one of our team and we’ll get the ball rolling.