Many meetings and conferences across the globe have been cancelled as a result of prohibitions on public gatherings. This poses important considerations for your Annual General Meeting of shareholders and other special shareholder meetings. As a result of COVID-19, there is a lot of new interest in virtual AGM’s in Canada. In the current environment, companies will need to balance health and safety with their reporting obligations, and virtual Annual Meetings are a great solution.
What you should be considering
- Review with your corporate counsel:
- Corporate statutes to determine eligibility to hold a virtual meeting while ensuring quorum requirements are met
- Whether you need a court order given the circumstances of COVID-19
- Regulatory requirements:
- The TSX/TSX-V is extending the timeframe for issuers to hold their Annual Meeting until December 31, 2020
- Review official notice to confirm if you are eligible
- Technology and meeting requirements:
- You may be allowed to host a virtual meeting, but you will need to consider the implications and plans for quorum, shareholder participation, voting and scrutineers
How we can help you
We have helped clients host Annual Meetings for the last 20 years and have a team that knows what it takes to be successful. We can help guide you through these considerations and work with you to hold a successful virtual Annual Meeting that meets your objectives and obligations.