Annual General Meeting [AGM]

Companies are generally required to hold an annual general meeting within a certain period following the end of their fiscal year. At the AGM, the management provides shareholders with the audited financial statements for the year, addresses the company’s performance and significant actions over the period, and answers shareholder questions.

Typically, anyone who owns the company’s shares is permitted to attend, to speak or ask questions, and to vote. A shareholder can miss the meeting and still vote by proxy, meaning that she assigns her right to vote to another who will attend the meeting.  This person can be a director, member of management, or the shareholder’s investment advisor. A proxy may specify the shareholder’s vote on the issues, or leave the vote to the discretion of the assignee.

See also: Statutory voting, Cumulative voting