Category: Share Registry

2024 Singapore AGM Insights Report

2024 Singapore AGM Insights Report

2024 Singapore AGM Insights Report

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Unlock Exclusive Insights into Singapore’s Annual General Meetings (AGMs)

The 2024 AGM season marks a shift back to face-to-face engagement, with companies actively reconnecting with shareholders in person. Hybrid meeting formats are also gaining traction, providing flexibility for both in-person and virtual attendance, while digital tools continue to enhance shareholder participation. Regulatory bodies like Singapore Exchange Regulation (SGX RegCo) remain focused on making AGMs more accessible and engaging.

Our in-depth report, based on data from 179 AGM proceedings during the peak April season, offers critical insights supported by statistics. Discover the latest developments in meeting formats, attendance, voting trends, and the methods companies are using to boost shareholder communication.

2024 Singapore AGM Insights Report

Key Takeaways:

  • Avoid Peak Dates: With many AGMs scheduled in the last week of April, companies can improve attendance by choosing less popular dates or adopting hybrid formats to accommodate more shareholders.
  • Consider Shareholder Demographics: When distributing meeting materials, tailor the methods to suit the preferences of different age groups – physical copies for older shareholders and electronic versions for younger, tech-savvy ones.
  • Enhance Q&A Efficiency: To keep meetings efficient, companies could address pre-submitted questions in advance, reserve additional Q&A time, and address off-topic questions post-meeting.
  • Adopt Electronic Polling: Using electronic polling, ideally with handsets, can reduce time spent on voting and avoid issues with BYOD polling like poor connectivity or low battery.
  • Plan for Increased Attendance and Questions: With growing shareholder participation, plan meeting durations that accommodate higher turnout and a greater volume of questions. Companies can also consider utilising the Question Deposition Service and addressing some of the questions prior to the meeting.
  • Inform on Refreshment Arrangements: If no refreshments are provided, companies are encouraged to notify shareholders in advance, possibly within the Notice of Meeting.

Download the full report to gain actionable insights on these trends, empowering your company to optimise your AGM practices and enhance shareholder engagement.

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2023 Singapore AGM Insights Report

2023 Singapore AGM Insights Report

2023 Singapore AGM Insights Report

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An in-depth report of the future of Singapore AGMs

In post-pandemic 2023 where shareholder meetings have veered from virtual AGMs to physical AGMs, find out the shifts behind these AGM trends and how hybrid meetings utilising webcasts can be a bridge to enhance efficiency and inclusivity.

As Singapore’s leading Meeting Services provider, BoardRoom has conducted 173 shareholder meetings in April 2023, and we share our key findings and takeaways on the future of meetings. In this comprehensive report, we delve deep into the current landscape of AGMs to understand the trend and shift in the various formats. Explore the reasons behind this shift and pick up practical tips in organising a successful AGM, so you can identify opportunities and risks while planning for future meetings.

Download the report to make an informed decision for your next AGM.

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Download 2023 Singapore AGM Insights Report

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SG-MY-Lumi Meeting Services : Optimising Hybrid AGMs

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SG-MY-Lumi Meeting Services : Optimising Hybrid AGMs

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In our recent webinar, ‘2023 AGMs and EGMS – What Have We Learned’, more than 50% of respondents identified cost as a major concern when considering hybrid meetings. Many believe that hosting hybrid meetings costs twice as much due to the need for physical venues and remote setup. While rising costs and logistical expenses pose challenges, they also create opportunities for creative solutions.

One strategy is downsizing venues, prioritising quality over quantity. The key is to strike a balance between limited physical attendance and remote participation.

Here are our tips on how you can maximise cost efficiency and engagement in your hybrid meetings.

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Connect with our Meeting Services team today to discuss on how you can promote a dynamic and inclusive meeting environment that serves all stakeholders.

Contact BoardRoom for more information:

Charlyne Pak

Share Registry Services Manager, BoardRoom Singapore

E: [email protected]

T: +65 6536 5355

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Tips for running hybrid AGM webcasts in Singapore

Tips for running hybrid AGM webcasts in Singapore Banner

Tips for running hybrid AGM webcasts in Singapore

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The arrival of COVID-19 accelerated the adoption of digital technologies for the seamless execution of general meetings in Singapore. Supported by legislative changes, the pandemic ushered in an era where virtual platforms became the backbone of these meetings, revolutionising the way businesses and organisations convened and interacted.

The COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders allowing businesses to hold virtual general meetings in Singapore ceased from 1 July 2023. However, in recognition of the many benefits afforded by virtual and hybrid meeting technologies, Singapore introduced a new Bill on 9 May 2023, allowing businesses to continue holding their general meetings electronically if desired. However, for public companies listed on Singapore Exchange (SGX), general meetings would have to be held either in physical or hybrid format.

With legislation supporting businesses to provide stakeholders the option to attend meetings virtually or in person, it appears that hybrid meetings are set to be an ongoing Annual General Meetings (AGMs) trend.

Charlyne Pak, Manager Share Registry Services for BoardRoom Singapore, explores the reasons behind the surge in hybrid AGMs and offers expert tips to help you run hybrid meetings successfully.

The benefits of hybrid AGMs

Hybrid AGMs are becoming commonplace in Singapore and around the world due to the raft of benefits they can provide to businesses and shareholders alike.

The benefits of hybrid AGMs

Three key advantages of hybrid AGMs are:

Greater engagement
Positive ESG factors
Cost and time savings

Greater engagement

By allowing attendees to join from anywhere in the world, hybrid AGMs, or any type of general meeting, can help to improve accessibility and stakeholder engagement.

“One of the main reasons companies adopt hybrid meetings is because they want more interaction with shareholders who want to attend in person while at the same time giving shareholders the flexibility to choose which mode they want to participate in,” Charlyne explains. “Hybrid formats allow for a wider reach of stakeholders, as attendance is not limited by location.”

The convenience of hybrid meetings also means that shareholders are less likely to skip them due to conflicting schedules.

“Shareholders who hold stakes in multiple companies can now attend multiple AGMs in one day, as there’s little to no travelling time in between,” says Charlyne.

Positive ESG factors

By leveraging technology to bridge distances, businesses can enhance their response to environmental, social and governance (ESG) issues in several ways.

“Hybrid AGMs can help reduce the environmental impact of meetings because attendees who would normally travel can instead participate remotely,” she says.

A reduced need for travel leads to less carbon emissions, thus promoting sustainable business practices.

Hybrid AGMs can also help foster good corporate governance, with higher attendance levels across stakeholder groups helping to promote transparency, accountability and relationship building – three critical components of responsible business management.

Cost and time savings

Hybrid meetings can provide businesses with valuable time and cost savings, which can then be redirected into progressing primary business goals. A reduced number of in-person attendees can help businesses to save on costs by downsizing their catering and event space.

By leveraging digital technology, hybrid meetings are also likely to proceed more efficiently than fully physical meetings; since COVID-19, average meeting times in Singapore have seen a remarkable 62.5% drop.

How to prepare for a hybrid AGM in Singapore

Businesses can help ensure a successful hybrid AGM by taking the following steps in the preparation stage.

Start preparing early
Commence preparations at least three months in advance to block out attendees’ calendars, allow time for testing and avoid costly last-minute changes or rescheduling.
Review local regulations and standards
Singapore regulations are continually updated to enhance the AGM experience for all businesses and their shareholders. To ensure compliance, familiarise yourself with the latest regulatory requirements and service standards. A trusted corporate secretarial services provider and share registrar can ensure your company remains compliant.
Arrange for site visit and equipment testing
For a seamless experience, select a venue that easily accommodates in-person and virtual attendees, and invest in high-quality audiovisual equipment. Test all equipment beforehand to minimise the risk of technical glitches.
Test internet connectivity
Test your network to ensure it is stable and secure and prepare a backup network in case of connectivity issues on the day.
Work with a reliable meeting solutions provider
BoardRoom, partnering with Lumi Global, provides a meetings solution that is secure, user-friendly, and also able to meet the regulatory requirements for live voting and Q&A (a vital diversity and inclusion factor). Familiarise yourself with the platform and arrange on-the-day technical support to ensure quick, professional handling of any unexpected issues.
Hold a dress rehearsal early
Unexpected technical issues can cost money and time and harm your reputation. Dress rehearsals allow time for your board, chairman and relevant stakeholders to familiarise themselves with meeting procedures and provide the opportunity to iron out potential issues and create a contingency plan.
Provide clear instructions to attendees
Provide clear meeting instructions to all attendees, detailing the process for joining the hybrid meeting, accessing relevant documents and participating in Q&As and polls.

As a matter of best practice, a reputable meeting services provider will adopt these steps during the preparation stages of an AGM, seamlessly reducing the burden on companies. By leveraging their expertise, they will ensure a streamlined hassle-free experience.

Tips for conducting a successful hybrid AGM

When it comes to ensuring the smooth and effective running of a hybrid AGM webcast in Singapore, Charlyne has the following three straightforward tips for business leaders:

  • designate a moderator;
  • request attendees turn phones off or on silent; and
  • foster engagement with both virtual and in-person attendees.

“Firstly, as there are two different channels for receiving questions – in person and via the real-time messaging platform – always designate a moderator from your company,” she says.

A sharp moderator can help guide the flow of discussion and manage questions raised during Q&A, encouraging valuable engagement across stakeholder groups, and also helps the Chairman to control the meeting time.

“Secondly, request all attendees to turn off their mobile devices or switch them to silent mode,” Charlyne continues. This will minimise distractions and interruptions during the meeting and help attendees stay focused on matters at hand.

“Thirdly, it is important to foster a sense of fairness among in-person and virtual attendees,” Charlyne says. “This involves making sure all attendees are equally engaged throughout the meeting instead of defaulting to those present in the room.”

Business leaders can foster engagement and satisfaction among all shareholders by:

  • dedicating equal airtime to in-person and remote attendees during the live Q&A; and
  • providing remote attendees with tokens of equal value to any perks provided to physical attendees (such as refreshments or vouchers).

What to do after your hybrid AGM

The period following an AGM presents a golden opportunity to evaluate the event’s success and make improvements to your conduct of hybrid general meetings.

After your AGM, it is time to:

  • Analyse attendee feedback – Gathering feedback from all attendees will assist in refining future meetings. Consider including a QR code at the end of the final presentation directing shareholders to a feedback form.
  • Evaluate the success of the hybrid format – Assess the effectiveness of the hybrid format in achieving your desired outcomes (such as increased engagement and inclusivity) and compare attendance rates with other formats to gauge overall success.
  • Start planning for future AGMs – Use the insights gained from the evaluation process to refine and enhance future AGMs. Opportunities for improvement may lie in adopting new technologies, enhancing your engagement strategies and addressing any shortcomings identified.
What to do after your hybrid AGM

Engage a reputable meeting services provider for the best results

From 1 October 2022, in order for shareholders to make decisions on an informed basis, all SGX-listed companies must include live polling and Q&A at their general meetings. A professional meeting services provider can support with these practices and all aspects of the meeting process from start to finish to ensure a compliant and successful general meeting.

Top general meeting service providers in Singapore tend to have the following:

  • strong knowledge of local regulations and standards and the ability to help you achieve strict compliance;
  • a wealth of experience in running General Meetings in different formats and implementing contingency plans for dealing with unfortunate situations like power outages; and
  • an end-to-end service that includes a post-meeting debrief to explore what was done well and what can be done better next time.
Tailored support for hybrid meetings in Singapore

Tailored support for hybrid meetings in Singapore

Hybrid meetings have emerged as the future of general meetings, with many Singaporean businesses embracing digital technologies to deliver inclusive and productive meeting experiences for their shareholders.

BoardRoom has a long history of helping businesses throughout the Asia-Pacific region make the most of their General Meetings. Today, we proudly conduct general meetings for almost 47% of companies on the Singapore Stock Exchange and have a strong reputation for delivering exceptional outcomes for clients.

As part of our comprehensive share registry service, we assist with all aspects of running physical, virtual and hybrid meetings in Singapore. Our experienced share registry team specialises in providing a professional, tailored meeting service that aligns with your unique business needs.

Contact us today to find out how we can assist with running your next AGM. To learn more about the future of annual general meetings in Singapore, download our AGM trend infographic so you will be equipped to make informed decisions for your next AGM

Contact BoardRoom for more information:

Charlyne Pak

Share Registry Services Manager, BoardRoom Singapore

E: [email protected]

T: +65 6536 5355

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The benefits of hybrid meetings and virtual AGMs in Singapore

The benefits of hybrid meetings and virtual AGMs in Singapore

The benefits of hybrid meetings and virtual AGMs in Singapore

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The global shift towards greater digitalisation has had significant impacts on the Singapore corporate sphere, with the COVID-19 pandemic serving to accelerate a sector-wide uptake of digital communication technologies to support business continuity.

While the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders allowing businesses to hold meetings electronically ended on 1 July 2023, a new Bill has already come into effect, giving businesses (non-SGX listed) the option to continue conducting their meetings virtually if they wish – even if physical meetings are stipulated in their company constitution.

Now that businesses have experienced the advantages of electronic meetings first-hand, the shift towards virtual and hybrid formats is expected to be an enduring Annual General Meetings (AGMs) trend.

Ahead, Charlyne Pak, Manager Share Registry Services for BoardRoom Singapore, explains how both small and large businesses can benefit from holding hybrid and virtual meetings in Singapore. We will also explore key considerations for ensuring your meetings foster positive communication and meaningful connection between shareholders.

Key advantages of hybrid meetings and virtual AGMs in Singapore

A major advantage of virtual meetings is that they can be logistically easier to arrange than on-site meetings. This is particularly the case when the board of directors are located overseas.

“On-site meetings may require transport, venue preparation, accommodation and catering, while virtual meetings allow participants to dial in from wherever they’re located,” Charlyne explains. “This makes running the meeting easier logistically and saves on costs.”

Benefits AGM meeting

Additional advantages of hybrid and virtual meetings include:

Increased flexibility and convenience
Participants can choose whether to attend physically or remotely, depending on their location and preferred mode of communication.
Enhanced diversity and inclusion (D&I)
Shareholders who are based overseas or have mobility or health issues (e.g. immunodeficiency) can easily attend remotely, which supports inclusivity and engagement levels.
Improved communication
Real-time messaging functions allow for better communication during Q&A sessions, as it removes the stress or pressure that can come with asking questions in-person.
Time savings
Digital capabilities such as pre-meeting registrations, integrated virtual voting and live Q&A help to streamline meeting management.
Corporate sustainability
The need for travel, paper and catering is minimised or removed, resulting in less wastage and a smaller carbon footprint.
Bolstered reputation
Leveraging new technologies symbolises your company’s eagerness to stay at the forefront of evolving business practices.

The benefits of virtual AGMs for smaller businesses

The time and cost savings of electronic AGMs make them a popular option for many smaller businesses, who usually have limited financial resources and therefore must prioritise the effective management of budgets.

“Virtual meetings can be more cost-effective as you don’t have travelling, accommodation or venue booking expenses,” says Charlyne.

The real-time engagement tools offered by digital technology have cut meeting times dramatically, with the average meeting now lasting 30 minutes, down from 80 minutes in 2019.

Digital technology can also assist small businesses in making new connections and fostering strong partnerships due to the improved networking and collaboration opportunities it can provide.

The benefits of virtual AGMs for smaller businesses

The benefits of hybrid AGMs for larger businesses

As COVID-19 restrictions eased, many businesses – particularly larger organisations with numerous shareholders – learned how to run a hybrid AGM so that overseas shareholders could still enjoy the convenience of attending remotely.

According to Charlyne, the flexibility of hybrid meetings can help boost participation numbers, leading to stronger engagement and communication among members of your organisation.

“With hybrid meetings, you can connect with a larger group of shareholders with no geographical limitations,” Charlyne says. “However, less tech-savvy shareholders can still choose to attend in person.”

Hybrid meetings also allow companies to streamline in-meeting communication through the use of digital tools.

“Participants can raise questions virtually via real-time messaging, where the moderator can categorise similar/repeated questions for the Chairman to reply. This helps in reducing the duration of the meeting,” Charlyne says.

What to consider when running a hybrid or virtual AGM in Singapore

Business leaders can maximise the benefits of hybrid and virtual meetings (AGM, EGM) by paying attention to the following factors.

Meeting format
Both virtual and hybrid settings for your AGM offer distinct unique benefits. Make your selection based on your business requirements and shareholder demographics.
Communication management
To comply with regulatory standards and support good communication, work with reliable meeting service providers. BoardRoom, partnering with Lumi Global, provides meeting solutions with features such as real-time voting, messaging, polling, and document repository which provides shareholders easy access to all documents. Make sure to designate a moderator to manage incoming virtual messages and questions.
Practise and preparation
Prior to the meeting, it is important to perform a dry run (dress rehearsal) and craft detailed chairman scripts. This will help ensure the seamless execution of your meeting and instil confidence amongst attendees, leading to enhanced meeting outcomes.
Good governance
A reputable meeting services provider can ensure good corporate governance by facilitating transparent and inclusive communication, promoting effective decision making and support in maintaining accurate records.
Risk mitigation
To reduce the risk of disruptions, work with your meeting services provider to put contingency plans in place in the event of technical failure. By partnering with Lumi Global, the world’s leading end-to-end hybrid and virtual meeting provider, BoardRoom is able to switch to a backup server almost instantly should there be a power failure during your meeting, thus maintaining seamless continuity.
Privacy and security
Ensure internal data privacy and security protocols are followed to protect sensitive information shared before, during and after the meeting.

Make the most of your meetings with BoardRoom

Amid digital transformation in Singapore and around the world, electronic meetings have emerged as powerful tools for businesses to adapt and thrive. Well-conducted hybrid and virtual AGMs provide a valuable opportunity to engage meaningfully with shareholders and gain a strong understanding of stakeholder expectations.

At BoardRoom, we are ready to handle all your meeting management, polling and live engagement needs as part of our premium share registry services.

With a commitment to delivering quality service, we strive to ensure the effective and compliant running of your general meetings in line with local regulations and the Singapore Standard for Vendors of Virtual/Hybrid General Meeting Systems.

Our dedication to positive client outcomes means we are now Singapore’s leading meeting services provider, with 47% of public-listed companies choosing BoardRoom to conduct their general meetings.

Contact us to discuss how our comprehensive share registry and meeting services can benefit your business.

Make the most of your meetings with BoardRoom

Contact BoardRoom for more information:

Charlyne Pak

Share Registry Services Manager, BoardRoom Singapore

E: [email protected]

T: +65 6536 5355

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The changing face of meetings and AGMs, from virtual to in-person. What to expect?

The changing face of meetings, from virtual to in-person. What to expect Banner

The changing face of meetings and AGMs, from virtual to in-person. What to expect?

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With recent changes in regulatory requirements and shareholder activism, we have observed significant differences in how companies conduct their meetings to ensure regulatory compliance and meet shareholders’ expectations. Adoption of technology such as AGM webcasts and ESG factors have also influenced the way companies conduct their meetings.

We have compiled valuable insights reflecting the dynamic shifts that have taken place in the world of Annual General Meetings (AGMs) for the April-May meeting season in Singapore. Whether you’re an investor or a company executive, our infographic is your gateway to understanding the dynamics of virtual, physical and hybrid AGMs in Singapore.

Download our AGM Trends Infographic today so you will be equipped to make informed decisions for your next AGM.

Download AGM Trends Infographic

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SG AGM Trends Report (2022 Edition)

SG AGM Trends Report Banner

SG AGM Trends Report (2022 Edition)

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Emerging trends which will shape the future of general meetings in Singapore

Regulations, the adoption of technology-driven solutions and shareholders’ behaviours have changed during the pandemic. Will these changes be permanent, or will companies return to their old ways?

To understand how these will impact general meetings moving forward, download and read our analysis of data gathered from 2019 to 2022.

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Download Singapore’s Trends Report (2022 Edition)

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Clearing the Complexities of SPAC in Singapore

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Clearing the Complexities of SPAC in Singapore

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Transitioning to a public company is an important milestone for a business. Access to capital can open opportunities for growth, reduce debt, and improve your public profile. But not every company is well-suited to an initial public offering (IPO), and the process can be long and complicated. Many companies in Singapore are considering mergers with special purpose acquisition companies (also known as SPACs) as an alternative to a traditional IPO.

What is a SPAC?

If you are familiar with capital markets, you have probably heard these terms before. Still, you may be wondering what SPAC means.

Here is a simple definition:

A SPAC (short for Special Purpose Acquisition Company) is a publicly-traded corporation formed with the objective of acquiring a privately held business to enable it to go public. In other words, they can grant private companies access to public markets. Because SPACs typically have no existing business operations or stated targets for acquisition, they are also known as “blank cheque companies”.

SPACs are normally formed by investors or sponsors with expertise in a particular industry or business sector, with the intention of pursuing deals in that area. Investors in SPACs can range from well-known private equity funds to the general public.

Mixed photo and illustration image of Singapore stock exchange market trading graph with the Singapore flag industrial area.

The capital raised through the SPAC process is placed in an interest-bearing trust account. Then, the SPAC founders have a limited time (typically 18 to 24 months) to acquire a suitable company.

The funds in the trust can only be dispersed for one of two reasons:

  1. to complete an acquisition of a company;
  2. to return the money to investors if they don’t complete an acquisition in the set timeframe.

After the SPAC successfully acquires the private company target (through a process known as “de-SPAC”), the target company then assumes the public listing on the exchange.

The rise of SPACs in Singapore

SPACs have been around since the 1990s and have increased in popularity since 2013. However, it wasn’t until 2020 that they really started to gain traction, attracting big-name underwriters and investors and raising a record amount of capital.

In 2020, SPAC listings accounted for more than 50% of new publicly listed US companies. By 2021, there were more than 600 SPACs in the US, raising $162 billion.

In the Asia-Pacific region, both Hong Kong Stock Exchange (HKEX) and Singapore Exchange (SGX) have received significant market interest to introduce SPAC in their capital markets.

Singapore launched its SPAC framework in September 2021, and to date, there have been three SPACs listed on SGX. Hong Kong followed suit, welcoming its first SPAC listing on the HKEX in March 2022.

As Asia continues to be the growth engine for the world, it is predicted that there will be many more companies in the region involved in SPACs, as both sponsors and targets.

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SPAC benefits and challenges

Whether you choose to go public via traditional IPO or SPAC, you will face similar regulatory scrutiny.

But there are some benefits of SPACs, including:

  • Speed to market: a SPAC merger can expedite the timeline to become a public company, normally within 4-6 months, compared to an IPO, which typically takes 6-9 months.
  • Lower fees: SPAC transactions attract around 5-7% fewer fees than IPOs in terms of legal, audit, registration and administrative costs;
  • Flexibility in deal terms: SPACs offer more flexibility than IPOs when it comes to negotiating favourable deal terms, e.g., valuation or additional investment;
  • Greater market certainty: unlike traditional IPOs, target companies can negotiate the price of their stock up front — sometimes months before the transaction closes — giving them more certainty in volatile market conditions;
  • Access to expertise: SPAC sponsors are normally led by experienced management teams who can offer business insights and networks to leverage;

Preparing for successful SPACs in Singapore

A SPAC is created with the sole purpose of acquiring an operating business. It is also considered to be an alternative way of seeking a listing for a company.

However, these transactions are not without their challenges. Singapore companies will need to prepare for:

  • An accelerated public company readiness timeline: SPAC targets must be ready to operate as a public company within three to five months of signing a letter of intent.
  • Complex accounting, financial reporting and registration requirements: these may differ based on the lifecycle of the SPAC involved.

This means you will need expert guidance and a comprehensive project management plan to ensure you are ready to go.

You must also examine the stringent requirements for SPACs on Asian stock exchanges. For example, Singapore launched its SPACs framework in September 2021 and, to date, has seen three SPACs listed on SGX, with more to come.

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According to the SGX listing under the SPAC framework released in September 2021, companies must have the following key features:

  1. Minimum market capitalisation of S$150 million
  2. De-SPAC must take place within 24 months of IPO with an extension of up to 12 months subject to fulfilment of prescribed conditions
  3. Moratorium on Sponsors’ shares from IPO to de-SPAC, a 6-month moratorium after de-SPAC and for applicable resulting issuers, a further 6-month moratorium thereafter on 50% of shareholdings.
  4. Sponsors must subscribe to at least 2.5% to 3.5% of the IPO shares/units/warrants depending on the market capitalisation of the SPAC
  5. De-SPAC can proceed if more than 50% of independent directors approve the transaction and more than 50% of shareholders vote in support of the transaction
  6. Warrants issued to shareholders will be detachable and maximum percentage dilution to shareholders arising from the conversion of warrants issued at IPO is capped at 50%
  7. All independent shareholders are entitled to redemption rights
  8. Sponsor’s promote limit of up to 20% of issued shares at IPO

Choose a provider that knows the region

Companies considering a SPAC transaction will need to make sure they meet regulatory requirements for the market they’re operating in.

It is critical for target companies to understand the criteria and risks, as well as assess their readiness to operate as a public company, just as they would if they were considering the traditional IPO route. They need to prepare themselves to navigate these challenges.

Choosing an experienced corporate service provider with in-depth knowledge of SGX’s SPAC listing rules will help you navigate this complex territory.

Our team has over 50 years of experience with taking Singapore companies public and can help ensure you are compliant with local laws and regulations if you are considering a SPAC transaction. In fact, over 50% of SGX-listed companies trust us with their share registry services.

Think beyond the bell ringing

Whether you choose to go for a traditional IPO or the SPAC route, it’s important to think long-term. Once you go public, there are many ongoing requirements to consider.

Publicly listed companies are subject to high levels of scrutiny from shareholders and regulators alike. The list of ongoing obligations is long and complex, which is why it’s an SGX requirement to appoint a share registrar.

Partnering with a trusted share registrar in Singapore ensures your company remains compliant with local regulatory requirements while keeping shareholders engaged and informed.

Here are some typical services a share registrar provides:

  • ongoing share registry maintenance and administration;
  • ensuring all corporate actions are processed according to SGX regulations;
  • meeting management and scrutineering services.

And, if you operate across multiple jurisdictions, you will need someone who has specialist expertise and experience across multiple APAC countries.

As one of the leading corporate service providers in the Asia-Pacific region, BoardRoom has over 50 years of experience guiding many listed corporations in Singapore, Malaysia, Hong Kong, and Australia, including expertise with SPACs.

Contact us to set up a personalised consultation and see how we can add value to your business today.

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Singapore (2020) AGM Landscape Trends Report

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Singapore (2020) AGM Landscape Trends Report

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2020 has been a year like no other with the COVID-19 pandemic disrupting the AGM market. BoardRoom’s dedicated Share Registry team conducted 188 virtual meetings covering various industries across the period of Circuit Breaker & Phase I. The teams navigated the volatility and uncertainty of the conditions and guided clients through an AGM season like never before.

BoardRoom Annual AGM Thought Leadership Paper FY2020

FY2020 saw an accelerated digital journey compressed into days and weeks in order to adapt to the new normal as a result of the pandemic.

This paper sets out our key thoughts, trends and commentary as we reflect on the past and what it means for the future ahead in a post-COVID environment.

About the Data

This section sets out the breadth and scope of our paper. The insights and analysis provided here were acquired through BoardRoom’s coverage of our clients where we provided Meeting Services.

About_the_Data
Technology

The pervasive use of technology was amplified this year as observed in the previous themes surrounding our medium of communication, dissemination of information, registration of shareholders, engagement medium etc.

Some issuers turned to web-based video conferencing software, instead of using a secure webcast.

Technology_statistic
AGM Shareholder Engagement
AGM_Shareholder_Engagement

Download the Full Singapore (2020) AGM Landscape Trends Report

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4 Services that a Top Share Registrar Provides

4 Services that a Top Share Registrar Providers

4 Services that a Top Share Registrar Provides

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4 Services that a Top Share Registrar Provides

Unless you are experienced in working with the capital markets, most would be unfamiliar with the differences between the types of services provided by different Share Registry Services providers.

What Is a Share Registrar?

Some basic roles of a Share Registrar that most are aware of would be maintaining the register of shareholders for their listed and unlisted clients and ensuring that all Corporate Actions are processed according to the regulations listed by the Singapore Exchange (“SGX”). However, a top share registrar should go beyond these basic services and add value to their clients by providing a one-stop-shop approach to their service offerings. In this article, we’ll discuss the 4 important services a top share registrar should provide.

01 Share Registrar Provides Secure Process and Services for Clients’ Personal Data Protection

An excellent share registrar takes on the task of liaising with regulatory parties such as SGX to ensure important information like the shareholder registers and lists of active shareholders are actively maintained. This is a standard service offering for a share registry provider. However, what differs between service providers are their policies and procedures around personal data protection.

The information housed in the share register contains highly sensitive personal data like residential addresses and identity numbers, which are considered personal data. In Singapore, personal data is protected by law under the Personal Data Protection Act (“PDPA”). A professional Share Registrar will not only have strict policies and procedures in place to demonstrate compliance with the PDPA but will also go one step further and showcase Accountability through the appointment of and regular training of their Data Protection Officer (“DPO”). To learn more about why Accountability in Personal Data Protection is important, take a look at our joint article with the leader in Personal Data Protection governance, Straits Interactive.

02 Share Registrar Helps Shareholders Communicate with Meeting Services: AGMs/EGMs/SGMs

Under the Accounting and Corporate Regulatory Authority (“ACRA”), all companies are required to hold Annual General Meetings (“AGM”) within four months after their financial year end (“FYE”). An exceptional share registry provider will offer meeting services to ease the stress of arranging for such meetings.

Other significant shareholder meeting services that a share registrar will provide are Extraordinary General Meetings (“EGMs”) or Special General Meetings (“SGMs”). These meetings are typically irregular and usually call for issues that require immediate resolution, such as legal matters. As AGMs and EGMs are often a good gauge for shareholders to judge the company’s status, a successful shareholders’ meeting is crucial to boost stakeholders’ confidence in the company.

Given AGMs & EGMs involve important stakeholders voting on the passing of resolutions, a holistic package of meeting services should be offered to meet the needs of clients. AGMs and EGMs include several key stages: pre-meeting, during the meeting, and post-meeting, each with its own unique set of needs. We have listed the services an experienced Share Registrar would provide at each stage below.

Pre-meeting

  • Advise on event planning,including the recommendation of vendors for catering, venues, and expected timelines
  • Prepare and coordinate the printing and sending of Companies’ Annual Reports to shareholders
  • Process proxy forms and generate reports for clients to get an idea of the general sentiment regarding certain resolutions before the meeting
  • Sourcing of scrutineers if the Share Registrar is the registered Polling Agent
  • Prepare proxy summary listing based on the valid proxy forms received
  • Arrange fora site survey and dry-run at the meeting venue prior to the meeting (if necessary)

During the Meeting

  • Manage the attendees through attendance taking and ushering of shareholders

 

  • Verifythe attendee’s particulars to ascertain their identity as a valid shareholder before admission
  • Provideup-to-date attendance registration status
  • Run the pollingwith the support of relevant IT personnel
  • Provide Scrutineering services, provided the Share Registrar is not the registered Polling Agent. If they are, they are unable to provide this service
  • Compute thepolling results

Post-meeting

  • Generate an official certificate with the resolutions and polling results for the perusal of the Board of Directors and Chairman
  • Generatereports including information on shareholder attendees, audit trails on voting instructions by shareholders, to name just a few

 

 

Outside of this, an experienced share registrar should be pre-emptive and adapt quickly to changes. In a post-COVID era, hybrid AGM meeting modes have become the mainstream approach for companies embracing flexibility to navigate this new norm. This brings about unique challenges and increased responsibilities for share registrars as there is no longer a clear default mode for either physical or virtual meeting. As a result, any exemplary service provider should adapt and impartially cater to the needs of both the online and offline shareholders.

03 Share Registrar Offers a Variety of Polling Solutions and Services

There is no “one size fits all” polling service. Share registrars should anticipate the various needs of clients and advise companies on which polling solution is most suitable for them based on factors such as the number of shareholders or the company’s budget.

Detailed below are the common types of polling services in Singapore today:

  • Manual Polling/Voting– Executed through paper and pen with the share registrar manually counting the votes during a meeting. It can also be a semi-automated process where details and votes are captured electronically on a polling/voting solution. Typically used by companies with a small to medium shareholder base, the time taken can be longer due to the manual work needed as headcount increases.
  • Electronic-polling/Voting– Administrated via handsets and smart cards provided to shareholders, a card reader is used to capture information that collates and displays results instantly. Companies that usually engage this are the ones with a sizeable shareholder base where speed and real-time polling data are important.

04 Share Registrar Provides Support Services for IPO Listing

Whilst a lot of the services discussed above are post-Initial Public Offering (“IPO”), an important role of a Share Registrar should be to support clients before and throughout their IPO listing journey. A professional share registry service provider offers support through advising on the SGX requirements for a successful listing in Singapore. There are many unknowns on an IPO journey; a capable share registrar will have experience across a variety of situations to ensure they can advise on the necessary actions for a seamless experience founded on compliance and best practice governance. Some common areas an experienced share registrar can support are:

  • Backend processes such as IPO application, IPO subscriptions,and IPO administration
  • Both local and inbound overseas companies have specific requirements for IPOs;a Share Registrar experienced in regional dealings will be able to safeguard businesses from compliance risks

In Conclusion: Share Registrar Provides Diverse Services for Efficient Share Management and Regulatory Compliance

An exemplary Share Registrar should offer an astute suite of services that cater to clients’ needs. They should be proactive in all their dealings and prioritise delivering a service that alleviates administrative burdens. A good share registrar can be the make or break for maintaining valuable shareholder relations and ensuring compliance with all local regulations to avoid any potential loss of reputation or monetary fines.

BoardRoom – Share Registry Services in Singapore

As one of the leaders and pioneers in the share registry industry, BoardRoom has over 50 years of experience guiding many listed corporations in the APAC region. Our expertise is trusted by close to 50% of SGX-listed companies, helping them to save time and money by delegating time-consuming administrative tasks to our dedicated team. We have comprehensive knowledge of compliance requirements across major stock exchanges in the region, including SGX, BURSA, HKEX, and ASX, providing expert advice and seamless coordination of your share registry services regardless of where your company is listed. Contact our Share Registry Services experts for your personalised consultation and see how we can add value to your business today.

Wondering what insights and experience a seasoned share registrar can bring to the table? Explore our full report on 2023 Singapore AGM Insights Report that we observed from our vast experience in handling a wide range of clients in the 2023 AGM season.

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