Knowledge & Insights

SGX has (in consultation with Accounting and Corporate Regulatory Authority (ACRA) and Monetary Authority of Singapore (MAS)) today released a media release here which provides that SGX will automatically extend by 60 days, the deadline for all issuers with financial year-end (FYE) on or before 31 March 2020 to hold their AGMs. For reference, issuers with a 31 December 2019 or 31 March 2020 FYE will only need to hold their FY2019 AGM by 29 June or 29 September 2020, respectively.

If an issuer wishes to make use of the automatic extension, it should notify SGX RegCo by email here and announce via SGXNet (1) the issuer’s relevant FYE and the indicative timeline to convene the AGM and (2) the Board of Directors’ confirmation that the time extension will not be in contravention of any laws and regulations governing the issuer and its constitution (or equivalent).

If the issuer is a company incorporated in Singapore, it will not be required to apply to ACRA for the automatic extension. ACRA's media release on the same can be accessed here.

In the meantime, SGX is assessing the impact of the “circuit breaker” measures announced on 3 April 2020 by the Ministry of Health on the holding of AGMs and intends to guide the market shortly.