Australia: preparing for your AGM — a checklist
With the 2012 AGM season rapidly approaching, it is again time for Boards of ASX listed companies to turn their minds to the resolutions to be put to shareholders for approval. We highlight below the recent changes that may have an impact on the 2012 notice of AGM, and include a checklist of resolutions that Boards should consider when preparing the notice.
The significant changes to the AGM landscape in 2012 are:
- The ability of small and mid-cap companies to increase their placement capacity from 15% to 25% under new Listing Rule 7.1A.
- The inclusion in the notice of meeting of a “spill resolution” if the company’s remuneration report received a “no” vote of 25% or more at its 2011 AGM…
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