Failure to hold General Meeting of Shareholders, enterprise may request an extension
Illustration image. Source: Internet |
Amid the acute respiratory infection due to a new strain of corona virus (Covid-19), which has complex developments, many public companies reported the organisation of the AGM in 2020 was very difficul due to the requirements of disease prevention and control by competent agencies, so the State Securities Commission requested public companies comply with the regulations on the time for organising the general meeting of shareholders in accordance with the Law on Enterprises 2014: “The general meeting of shareholders must hold an annual meeting within four months from the end of the fiscal year. At the request of the management board, the business registration office should extend the but it should not be more than six months from the end of the fiscal year.”
In case of not holding the annual meeting within four months since the end of the fiscal year, the State Securities Commission recommended the management board of the company must send a request document for an extension and send it to business registration agencies for handling.
Besides that, companies need to implement measures to prevent and control epidemics to ensure safety for shareholders, in accordance with the guidance documents of the Prime Minister, the National Steering Committee on Covid-19 prevention and the local government where the meeting is expected to be held.
The State Securities Commission also said companies can hold such meetings online so shareholders can attend and vote online.
However, enterprises need to review provisions of the Law on Enterprise, the company's charter and internal regulations on corporate governance to ensure the company is eligible to organise an online AGM.
In case the company's charter or internal regulations on corporate governance lack specific provisions on the application of modern information technology for shareholders to attend and speak at the AGM (including guiding shareholders to vote online), the State Securities Commission requested the management board of the company elaborate detailed regulations on organising the online AGM, or adds this content to the internal regulations on corporate governance.
To facilitate the implementation, the State Securities Commission requested Vietnam Securities Depository (VSD) close the list of shareholders for supporting the organisation of the AGM and to exercise rights of securities owners and provide other services to public companies in accordance with regulations.
Related News
The Minister of Finance chaired the Vietnam - Korea Financial Investment Promotion Conference
09:50 | 11/03/2024 Finance
Top 50 prestigious public companies in 2023: Shooting stars and unpredictable forecasts
11:38 | 14/06/2023 Import-Export
Top 50 public companies of 2023 sees major changes
15:59 | 01/06/2023 Import-Export
COVID-19 drug-related trafficking prosecuted
09:23 | 30/03/2023 Anti-Smuggling
Latest News
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
Striving for average CPI not to exceed 4%
16:41 | 01/11/2024 Finance
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable
16:39 | 01/11/2024 Finance
Removing difficulties in public investment disbursement
09:30 | 31/10/2024 Finance
More News
State-owned commercial banking sector performs optimistic growth, but more capital in need
09:28 | 31/10/2024 Finance
Stipulate implementation of centralized bilateral payments of the State Treasury at banks
09:29 | 29/10/2024 Finance
Rush to finalize draft decree on public asset restructuring
09:28 | 29/10/2024 Finance
Inspection report on gold trading activities being complied: SBV
14:37 | 28/10/2024 Finance
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%
10:45 | 28/10/2024 Finance
Ensure timely and effective management and use of public asset
11:31 | 27/10/2024 Finance
Accelerating decentralization in public asset management
11:26 | 26/10/2024 Finance
Difficulty in finding banks eligible to receive compulsory transfers
15:49 | 25/10/2024 Finance
Businesses can choose a suitable electronic invoice model generated from the cash register
14:18 | 25/10/2024 Finance
Your care
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
Striving for average CPI not to exceed 4%
16:41 | 01/11/2024 Finance
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable
16:39 | 01/11/2024 Finance
Removing difficulties in public investment disbursement
09:30 | 31/10/2024 Finance
State-owned commercial banking sector performs optimistic growth, but more capital in need
09:28 | 31/10/2024 Finance