A ban on listed companies holding annual general meetings (AGMs) is to be lifted after Wednesday next week, the Financial Supervisory Commission (FSC) said yesterday.
A total of 446 companies plan to hold AGMs next month, but the number of participants per room must not exceed five, it added.
The commission does not think it is necessary to extend the AGM ban, as the number of COVID-19 cases has been declining, it said in a videoconference.
Photo: Fang Pin-chao, Taipei Times
The commission on May 20 announced the ban on AGMs from May 24 to Wednesday next week to curb public gatherings, affecting 1,931 companies, which were asked to postpone the meetings to next month or August.
Among the 446 companies that have applied to hold their AGM next month, 54 companies had more than 50 investors and nine had more than 100 investors attend their meetings last year, Securities and Futures Bureau Deputy Director Kuo Chia-chun (郭佳君) said.
Companies have to adhere to the Central Epidemic Command Center’s (CECC) rules limiting indoor gatherings to five people.
For companies planning to accommodate more than five people, they have to set up more rooms to comply with CECC rules, and ensure that connections between companies and shareholders is smooth, Kuo said.
Although the commission cannot fine or punish noncompliant companies, local city governments have said that they would inspect to see if companies follow the rules, Kuo said.
Most of the 446 companies told the commission that they would use more than one room for AGMs to ensure safety and follow disease prevention measures, she added.
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