Guidance — COVID-19 and the impact on AGMs
This guidance has been produced by Governance Institute of Australia and the Australasian Investor Relations Association, with the assistance of the Business Law Section of the Law Council of Australia. It reflects the situation as at 20 March 2020.
Companies planning their AGM should be considering contingency plans in light of the spread of coronavirus (COVID-19). Checking relevant provisions of the company’s constitution and coordinating with share registries and venue providers is key, as is ensuring shareholders are kept regularly updated and are given the maximum opportunity to have their say.
Companies will need to ensure that their AGM enables shareholders a reasonable opportunity to participate in the meeting. This includes a reasonable opportunity for shareholders to ask questions, make comments and to vote.
This guidance offers suggestions reflecting the Corporations Act 2001 (Cth) and associated regulation. Companies will need to consider their individual circumstances, including their constitutions and any other relevant matters.