Virtual AGM is an annual general meeting of the company conducted using the online platform. The government of Singapore on 7th April 2020 passed a new law giving access to registered companies and societies to conduct AGM using video conferencing system or live stream. The annual general meeting of the company is only meant for the shareholders and the board of directors. In the AGM the board of directors present the annual report of the company stating the overall annual performance of the company. The Virtual AGM is no different than the traditional AGM practice the only thing that differentiates the two is the medium used. In virtual AGM everything is carried out remotely rather than all the members coming together at one place.
Benefits of conducting virtual AGM
- The person conducting the meeting gets complete control over the meeting. They get power to either restrict or allow certain members to attend the meeting. The host of the meeting also gets the power to control the voting held in the virtual meeting.
- The host of the meeting gets access to mute and unmute the members present in the meeting. The host can give access to the required members to unmute the meeting to avoid nuisance and disturbance in the meeting.
- The virtual AGM also gives the option to conduct AGM polling in the meeting wherein the host can display the polling question only to the required members in the meeting. The polling or voting option can be made available just during the need for it.
- The meeting can be secured by the host of the meeting. All the host has to do is provide the credentials to the specific people who are required in the meeting.
- The meeting can be recorded and stored by the members of the company for any type of further use.