The Bangladesh Securities and Exchange Commission on Thursday asked all the listed companies to hold their annual general meetings within the city of their registered offices in a bid to make it convenient for the shareholders to attend the meetings. The capital market regulator issued an order in this regard as many of the listed companies hold their AGMs in different remote places where their factories are located, a BSEC official told New Age on the day.
According to Investopedia, an internet site, an AGM in a mandatory public yearly gathering of a publicly traded company’s executives, directors and interested shareholders.
‘At the AGM, chief executive officer and director of a company typically speak, and the company presents its annual report, which contains information for shareholders about its performance and strategy,’ it said.
‘Shareholders with voting rights vote on current issues, such as appointments to the company’s board of directors, executive compensation, dividend payments and auditors,’ it said.
Holding AGMs at remote places makes it difficult for shareholders to attend the meetings, the BSEC official said.
So, AGMs should be held in the city areas to ensure shareholders’ participation in companies’ decision making and to ensure accountability of the companies’ management to the shareholders, he said.
-With New Age input
