I refer to the postponement of Annual General Meetings and an apparent lack of proper and meaningful communication to the small shareholders by the Board of Direc-tors of publicly traded companies.
While companies have published notices in the dailies and on social media or have written letters informing shareholders about the postponement of the Annual General Meet-ings it is my humble opinion that given the reasons for the postponement it is an insufficient activity undertaken by the Board of Directors.
I believe that given the great uncertainty and the high level of risk surrounding the activities associated with the COVID-19 Pandemic that the Boards of Directors should give very serious considerations to exploring the legal ramifications that may permit the holding of Virtual Annual General Meetings.
Please note that some companies that have postponed Annual General Meetings are into their third and second months of postponement with no end in sight and I don’t believe that the small shareholders have been updated on what happens next.
In closing I believe that while the Boards of Directors will continue to monitor the situation that they have no control over, as a very important responsible corporate body they should undertake important activities that give them some amount of control and enable them to finalize a very important governance activity Re the holding of a timely Annual General Meeting after the close of the financial year
