SGX: Physical General Meetings To Resume As Default For Listed Companies

Letter to the Editor

Business Times Singapore

Dear BT Editor,

Singapore Exchange Regulation (SGX RegCo) notes the feedback from investors calling for listed companies to hold shareholder meetings face-to-face, which was also echoed in the Business Times’ commentaries published recently.

Come 1 July 2023, the Government’s (Temporary Measures) Orders for virtual general meetings will stop and face-to-face general meetings will become the default for listed companies. As such, we would like to remind listed companies to make preparations for physical general meetings to meet the needs of investors.

SGX RegCo will not mandate hybrid meetings following the end of the Orders, as companies and shareholders have many different needs, and technology and the hybrid meeting ecosystem in Singapore are still evolving. It is up to listed companies to consider adding virtual capabilities to the physical general meeting, having regard to the size of their shareholder base and how best to facilitate shareholder engagement.

SGX RegCo will continue to monitor market feedback and sentiment on the mode of general meetings and consider views as they develop. We will also review the response paper to the consultation conducted by the Accounting and Corporate Regulatory Authority (ACRA) and the Monetary Authority of Singapore (MAS), when issued.

Best regards,

Tan Boon Gin

Chief Executive Officer

Singapore Exchange Regulation