annual general meeting

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Annual General Meeting

The main meeting of the shareholders of a publicly-traded company that takes place each year. At the annual general meeting, the company may present its financial reports. Shareholders may ask questions of the board of directors and they may vote on matters pertaining to the company that only shareholders may decide. Publicly-traded companies are required to have an AGM and must inform shareholders of where and when it will occur in a timely manner. See also: Extraordinary General Meeting.

annual general meeting (AGM)

the yearly meeting of SHAREHOLDERS which JOINT-STOCK COMPANIES are required by law to convene, in order to allow shareholders to discuss their company's ANNUAL REPORT AND ACCOUNTS, elect directors and agree the DIVIDEND payouts suggested by directors. In practice, annual general meetings are usually poorly attended by shareholders and only rarely do directors fail to be re-elected on the strength of PROXY votes cast in favour of the directors.

Extraordinary or special general meetings may also be called by directors or shareholders to deal with major changes in, say, the firm's capital structure. See BOARD OF DIRECTORS.

annual general meeting (AGM)

the yearly meeting of SHAREHOLDERS that JOINT-STOCK COMPANIES are required by law to convene, in order to allow shareholders to discuss their company's ANNUAL REPORT AND ACCOUNTS, elect members of the BOARD OF DIRECTORS and agree the DIVIDEND payouts suggested by directors. In practice, annual general meetings are usually poorly attended by shareholders and only rarely do directors fail to be re-elected on the strength of PROXY votes cast in favour of the directors.

See CORPORATE GOVERNANCE.

References in periodicals archive ?
To receive a free copy of the definitive proxy statement relating to the annual shareholder meetings after the proxy statement has been filed with the SEC, please call 1-800-225-1581.
In the age of ubiquitous digital information, the need for annual shareholder meetings is diminishing by the nanosecond.
The amended bylaws provide that nominations or other matters for consideration at annual shareholder meetings must be received by the company within a 45 to 75-day period prior to the first anniversary of the mailing of the company proxy materials for the previous year's annual shareholders' meeting (the proxy materials for the 1998 annual shareholders' meeting were mailed on March 17, 1998).

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