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ARTICLE · 22 APRIL 2020

COVID-19 And Annual Shareholder Meetings: Update

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Canadian public companies typically look to their federal or provincial governing statutes for timeline requirements regarding their annual general meeting (AGM).

CanadaCorporate/Commercial Law

This piece was updated on April 2, 2020, to include updates from Ontario and British Columbia.

Canadian public companies typically look to their federal or provincial governing statutes for timeline requirements regarding their annual general meeting (AGM). Generally, business corporation legislation requires an AGM to be held within 15 months of the last preceding AGM. Certain legislation, such as the Canada Business Corporations Act (CBCA), also imposes a requirement that an AGM be held within six months of the corporation's financial year-end. Companies listed on the Toronto Stock Exchange (TSX) are also required to hold an AGM within six months of the company's financial year-end. Due to a number of issues arising from the ongoing COVID-19 pandemic, including social distancing requirements, corporate regulators have issued statements that may affect typical regulatory and statutory requirements surrounding timing of an issuer's AGM, depending on an issuer's

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