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An annual general meeting, or annual shareholder meeting, is primarily held to allow shareholders to vote on both company issues and the selection of the company's board of directors. In large companies, this meeting is typically the only time during the year when shareholders and executives interact.
Annual General Meetings (AGMs) serve as a crucial event for organizations of all sizes and structures. It is a gathering where key stakeholders, including shareholders, board members, and executives, come together to discuss and make decisions that shape the future of the organization.
The main purpose of annual meetings is to allow shareholders to elect the directors who are responsible for the oversight of the company and its strategic direction.
The truth is, it depends, but it is typical for a corporation to hold several required formal meetings annually. The shareholders meeting is where corporation shareholders gather to not only discuss important company issues, but also to vote on them.
Shareholder meetings are a regulatory requirement which means most public and private companies must hold them. Notification of the meeting's date and time is often accompanied by the meeting's agenda.
During the meeting, shareholders review and discuss company performance, consider proposed changes to the company's strategy, and vote on resolutions. Depending on the size of the company, the format of the shareholder meeting may vary, but the purpose is the same.
(c) If there is a failure to hold the annual meeting for a period of 60 days after the date designated therefor or, if no date has been designated, for a period of 15 months after the organization of the corporation or after its last annual meeting, the superior court of the proper county may summarily order a meeting ...
Section 7.08 (iii) if any stockholder or proxyholder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be maintained by the corporation.