SC updates Guidance Note and FAQs on Conduct of General Meetings by Listed Issuers
16 October 2020
On 14 October 2020, the Securities Commission of Malaysia issued an update to the Guidance Note on the Conduct of General Meetings for Listed Issuers
(‘Updated Guidance Note
’) in light of a Conditional Movement Control Order imposed in Sabah from 13 to 26 October 2020, and in Selangor, Kuala Lumpur and Putrajaya from 14 to 27 October 2020.
The Securities Commission stated in the Updated Guidance Note that:
- any general meeting to be conducted by a listed issuer in a state or district under a Conditional Movement Control Order (CMCO) shall only be by way of a fully virtual meeting (with the fewest possible number of individuals being present at the broadcast venue and all shareholders participating online) and not by way of a hybrid or physical meeting; and
- a listed issuer shall not conduct any general meeting at a locality under an Enhanced Movement Control Order (EMCO) or a Targeted Enhanced Movement Control Order (TEMCO).
Further details of the requirements to be complied with for conducting a fully virtual meeting are set out in the Updated Guidance Note.