Extension of time for issuers with a 31 December financial year-end to hold annual general meetings to approve 31 December 2019 financial results in light of COVID-19

04 Mar 2020

The Singapore Exchange Regulation (“SGX RegCo”) has announced that it will grant a time extension of up till 30 June 2020 (“Waiver”) for issuers (irrespective of their place of business or operations) which fulfill certain criteria to hold their annual general meetings (“AGMs”) to approve their 31 December 2019 financial results.
This is in addition to the SGX RegCo’s announcement on 7 February 2020 which provided for a similar extension of time for issuers with their principal place of business or significant business operations in the People’s Republic of China to hold their AGMs, and is being granted in view of feedback from shareholders who want to attend AGMs but are concerned about large gatherings amid the COVID-19 situation.
This legal update sets out, inter alia, the eligibility criteria and the application process for the grant of a Waiver.

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