- annual general meeting
(AGM) Under the Companies Act 1985 a company must hold a meeting of shareholders in each calendar year to deal with matters such as the adoption of the previous year's financial statements, rotation of directors and the appointment of auditors. Shareholders may also use the opportunity to ask questions of the Board.
Easyform Glossary of Law Terms. — UK law terms.
- annual general meeting
(AGM) a compulsory general meeting of a company required under the Companies Acts; this is in addition to any other meetings in that year. The annual general meeting must be designated as such in the notices calling it.It is at the annual general meeting that dividends are decided. The company's accounts are considered and the directors' and auditor's reports are put before the shareholders. It is the occasion when directors are appointed in place of those retiring and where their remuneration and conditions are fixed. The annual general meeting is an important safeguard for shareholders since it is the one occasion when they can be sure of having an opportunity to question directors on the accounts, on their report and on the company's condition and prospects.
Collins dictionary of law. W. J. Stewart. 2001.
- annual general meeting
(AGM)A meeting of shareholders required to be held by a public company within six months beginning with the day following its accounting reference date (section 336, Companies Act 2006). Under the Companies Act 2006, private companies are not obliged to hold AGMs. The Companies Act 2006 does not specify what business must be transacted at an AGM, nor are there any restrictions on business. Usually the meeting is used for matters which must be dealt with each financial year, such as the re-election of directors, fixing the remuneration of auditors and consideration of the annual accounts, directors' report and auditors' report. A public company AGM requires at least 21 clear days' notice unless shorter notice is agreed by all members entitled to attend and vote.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
annual general meeting — noun 1. (abbrev AGM or agm) a meeting of the directors and shareholders of a company, at which the annual accounts (qv) are presented and discussed and directors and auditors are elected, and which limited companies are legally required to hold… … Useful english dictionary
Annual General Meeting — Also known as the AGM. All companies are required to hold an Annual General Meeting at least once every 15 months. Shareholders must be given 21 days notice of the meeting and this may only be waived if all shareholders agree. Dresdner Kleinwort… … Financial and business terms
Annual general meeting — An annual general meeting (commonly abbreviated as AGM, also known as the annual meeting) is a meeting that official bodies, and associations involving the public (including companies with shareholders), are often required by law (or the… … Wikipedia
annual general meeting — UK / US noun [countable] Word forms annual general meeting : singular annual general meeting plural annual general meetings British an AGM … English dictionary
Annual General Meeting — /ˌænjuəl ˌdʒen(ə)rəl mi:tɪŋ/ noun an annual meeting of all shareholders of a company, when the company’s financial situation is presented by and discussed with the directors, when the accounts for the past year are approved and when dividends are … Dictionary of banking and finance
Annual General Meeting — (AGM) An annual mandatory shareholder meeting that allows stakeholders to stay informed of, and involved in, company decisions and workings. This annual meeting is an event whereby shareholders are able to gather and ask the board of directors… … Euroclear glossary
annual general meeting — noun 1. the obligatory annual meeting of the shareholders and directors of a registered company. 2. an annual meeting of the members of any organisation, as a club, sporting group, school committee, etc. Also, AGM … Australian English dictionary
annual general meeting — AGM An annual meeting of the shareholders of a company, which must be held every year; the meetings may not be more than 15 months apart. Shareholders must be given 21 days notice of the meeting. The usual business transacted at an AGM is the… … Accounting dictionary
annual general meeting — AGM An annual meeting of the shareholders of a company, which must be held every year; the meetings may not be more than 15 months apart. Shareholders must be given 21 days notice of the meeting. The usual business transacted at an AGM is the… … Big dictionary of business and management
Annual General Meeting — Assemblée générale L assemblée générale, ou AG, est le rassemblement de l ensemble des membres d une organisation (ou des représentants de ces membres) afin qu ils rencontrent les dirigeants ou les membres de son conseil d administration et… … Wikipédia en Français