Annual general meeting

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An annual general meeting (commonly abbreviated to AGM , also known as annual meeting ) is the organization's general membership meeting.

These organizations include membership associations and companies with shareholders.

These meetings may be required by law or by constitution, charter, or by law governing the body. Meetings are held to conduct business on behalf of the organization or company.

Video Annual general meeting

Destination

An organization can run its business at annual general meetings. These businesses may include choosing boards of directors, making important decisions about the organization, and informing members of previous and future activities. At this meeting, shareholders and partners can receive copies of company accounts, review fiscal information for the past year, and ask questions about the direction of business to take in the future.

At annual general meetings, the president or chairman of the organization leads the meeting and can provide the overall status of the organization. The secretary prepares the minutes and may be asked to read important papers. The treasurer can present the financial statements. Other officers, boards of directors, and committees can provide their reports. Attend this meeting is a member or shareholder of the organization, depending on the type of organization.

Maps Annual general meeting

Public companies in the United States

Each country requires a public company incorporated therein to hold an annual general meeting of shareholders to elect the Board of Directors and transact any other business that requires the approval of shareholders. Notice of annual general meeting shall be made in writing and subject to the minimum notice period varying by state. In 2007, the Securities and Exchange Commission decided to require all public companies to make their annual meeting material available online. The final rule requires compliance by the major acceleration reporters beginning on January 1, 2008, and by all other reporters beginning on January 1, 2009 The "e-proxy" rule allows two methods for companies to submit their proxy materials, "only notices" option or " full set ". Under the notification only option, the company must post all its proxies on publicly accessible websites at that time

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Private companies in the United Kingdom

In the United Kingdom it becomes optional with effect from 1 October 2007 for any private company to hold a GMS, unless its articles of association require it to do so.

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See also

• Convention (meeting)
• Extraordinary general meeting
• Company law

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References

Source of the article : Wikipedia