What is the annual General Meeting?
The annual General Meeting (AGM) is a meeting performed once a year to close the important business as shown in the meeting agenda. Many companies are obliged to make a meeting by law and their own charter or institutes. Details concerning the meeting are usually given in the statutes of the company. Other standard items of the program include the vote of shareholders to approve the annual financial statements of the company and the annual report to approve the final dividend recommended by the Council and to choose new directors for all vacancies that could have been created since the last AGM. Documents concerning these items are distributed to shareholders before the annual General Meeting together with its agenda.
The agenda may include any matter, including written items required by individual shareholders. The main interaction at the meeting is between the Board of Directors and the shareholders. Formally is the AGM forum on which the Board of Directors is looking for, among other thingsLine from shareholders for items listed in the show.
AGM participation is limited to the Board of Directors and shareholders plus any other persons that the chairman can invite to the meeting. The management only participates in the meeting at the invitation of the chairman, but selected members of the top management of the company are usually invited to participate. It is common for the President and CFO of the Company to be invited to a meeting as well as selected company consultants, investment analysts and financial press. The meeting is usually closed to the public.
Chairman of the Company Chairman of the annual General Meeting, with the participation of all other directors. The company's secretary also participates in the annual General Meeting and records written notes, of which the main proceedings and decisions are recorded in the form of minutes. The records are subsequently distributed to shareholders to approve as an official recording of the meeting.
An important part of the annual General Meeting Je the time of question. This allows individual shareholders to directly question the advice. The questions are focused on the chairman who can in turn ask others to answer.
The annual General Meeting cannot continue unless the required quorum defined in the company chart is as determined. The quorum is usually specified as the minimum number of shareholders and the minimum level of share to be represented at the meeting, either in person or the proxy.