Month: May 2021

Ordinarily a company limited must hold its shareholder AGM within 4 months from the end of its financial year. Thus, for most companies with their financial year ending on 31 December, this means that they must hold their 2021 AGM by Friday April, 30. However, the Department of Business Development (DBD) has recently issued an announcement which gives more time for the holding of an AGM, the key details of this update are as follows: The permitted delay applies to juristic persons (including private limited companies) with their fiscal year ending between 26 December 2020 and 31 December 2020. Under this announcement an AGM can be adjourned for up to one month counting from the date originally specified for the original AGM, provided that the company submits a letter of explanation detailing the reason behind the delay, such as the […]