PROCESS TO HOLD AN
ANNUAL GENERAL
MEETING (AGM)
is a regular meeting of the members of a company which is held annually. It provides
an opportunity to the members of the company to review working of the company and
express their views on the management of the company.
BEFORE THE AGM
CONDUCT A BOARD MEETING TO:
Fix the day and time
Fix the agenda for the AGM
Authorize the Secretary to issue the notice of the AGM
THE NOTICE SHOULD:
Be sent days before the AGM takes place.
Be written
Be sent to every member or person entitled to receive this
notice
ABOUT THE PROXIES:
All Proxies received by the company shall be recorded
chronologically in a register kept for that purpose. In
case any Proxy entered in the register is rejected, the
reasons therefor shall be entered in the remarks column.
DURING THE AGM
QUORUM:
Check the presence of Quorum for convening the meeting.
Quorum shall be present not only at the time of commencement
of the Meeting but also while transacting business.
WHO CONDUCTS THE MEETING:
The Chairman of the Board shall take the Chair and conduct the
Meeting
If the Chairman is unavailable, a Director can be designated, or
in an extreme situation, a member shall be elected.
The Chairman shall then conduct the Meeting in a fair and
impartial manner and ensure that only such business as has
been set out in the Notice is transacted.
[Link] Chairman shall regulate the manner in which voting is
conducted at the Meeting keeping in view the provisions of the
Act.
The Chairman shall explain the objective and implications of
the Resolutions before they are put to vote at the Meeting and
provide a fair opportunity to Members who are entitled to vote
to seek clarifications.
AFTER THE AGM
SUBMIT DISCLOSURE:
The Corporation shall submit a disclosure of proceeding of the
general meeting to the stock exchange within 24 hours from the
conclusion of the meeting and shall
MINUTES:
Preparation and Signing of Minutes
AN EXAMPLE:
Continuing with the example of Strong Construction Inc. It's
been 2 months since December 31st of 2021, the day of the
end of the fiscal year, the Board of Directors have a meeting
to set the date and place for the third AMG, they decide the
meeting to be on March 15th of 2024 in the Four Seasons
Business Room that is on 57 E 57th St, New York, NY 10022,
USA. The BoD gives the Secretary authorization to send the
Notice to the incorporators of the corporation, the notice
included the following agenda:
• Meeting call to order
• Establish quorum
• Approval of minutes of previous AGM
• Directors' reports
• Financial statements
• Auditor’s report
• Coordinator/Executive Directors’ report
The BoD prepares the said reports and the day of the AGM is
now. So the Chairman begins the meeting and checks that
there is enough quorum, and being there 100% of the
ownership, they start reviewing the agenda.
When it comes to voting if they all agree with the reports, the
incorporators raise their hand in agreeance, so the meeting is
over.
Before they all leave, the meeting attendees sign an
Attendance List and sign the minute of the last AMG; and in
the next AGM, they will sign the minute of the present
meeting that contains the reached agreements.
