ACRA, MAS and SGX RegCo Update Guidance on General Meetings
Singapore, 31 March 2020 …. The Accounting and Corporate Regulatory Authority (ACRA), the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have updated the guidance for issuers on safe distancing measures when conducting general meetings.
2. SGX RegCo had previously announced that issuers are able to defer AGMs to after 30 April 2020. This updated guidance allows issuers that choose to proceed with general meetings before 30 April 2020, to be able to do so by, amongst others, providing opportunities for shareholders to ask questions, the meeting to be shown by “live” webcast and allowing proxy voting (Please see Annex for the updated guidance).
3. This follows the announcement today by the Ministry of Law and the Ministry of Finance on upcoming legislative provisions to provide legal certainty to enable issuers to hold meetings that comply with the Ministry of Health’s safe distancing measures.
4. Today’s announcement supersedes the earlier ACRA-MAS-SGX RegCo guidance issued on 19 March 2020.