THE Singapore Exchange Regulation (SGX RegCo) proposed new rules last week that would require listed issuers to facilitate shareholder-requisitioned meetings so that such meetings take place as soon as practicable.
It builds upon existing legislation in the Companies Act as well as an SGX RegCo regulator’s column last year that set out expectations on what boards and requisitionists should do in such situations.
With more shareholders now willing to step up and challenge incumbent boards and management, the move is important to support shareholders’ ability to exercise their fundamental rights without unnecessary hurdles.