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ARTICLE · 10 OCTOBER 2012

Shareholder engagement - has the AGM had its day?

Corrs Chambers Westgarth
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One of the pillars of the corporate calendar, the AGM, may be made optional, so listed companies could then scrap it.

AustraliaCorporate/Commercial Law
Iain Laughland
Iain Laughland
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One of the pillars of the corporate calendar – a company's annual general meeting – is on the brink of being made optional, giving listed companies the opportunity to scrap it.

While undoubtedly greeted with secret delight in the boardrooms of corporate Australia, it has unsurprisingly been condemned by retail shareholders and the Australian Shareholders Association. But will the AGM really be scrapped?

CAMAC's discussion paper

The ASX Corporate Governance Council Principles and Recommendations describe the annual general meeting as the "central forum by which companies can effectively communicate with shareholders, provide them with access to information about the company and corporate proposals, and enable their participation in decision-making."

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