THE Supreme Court has given the green light for 16 companies listed on the Jamaica Stock Exchange (JSE) to hold their annual general meetings (AGMs) virtually, either in full or part.
Where it is not possible to hold an AGM in person, a court order is required to hold the meeting by electronic means.
The application was based on the grounds that it was impracticable for the companies to hold their 2020 AGM in person given the ongoing COVID-19 pandemic, social distancing and other requirements imposed on citizens as a result of its effects.
The 16 companies are now permitted to call and hold their 2020 AGMs by live stream or broadcast using electronic means and allow their shareholders to participate and vote electronically either before or at the meetings.
Companies which were not parties to the application will not be able to rely on the court order to either call their AGMs electronically or to serve notices and other relevant documents as the court order permits.
