In Pakistan, an Annual General Meeting (AGM) is a meeting of the shareholders of a company that is held annually, usually at the company’s registered office. The AGM is an opportunity for shareholders to discuss the company’s performance, to approve the financial statements, and to elect or re-elect the company’s directors.
According to the Companies Act, 2017 of Pakistan, all companies must hold an AGM within six months of the end of their financial year. If a company has only one shareholder, the AGM may be dispensed with, and the shareholder may approve the financial statements by signing a written resolution.
At the AGM, shareholders have the right to ask questions, make suggestions, and express their views on the company’s performance and direction. The AGM is also an opportunity for the company’s management to report on the company’s performance and to answer questions from shareholders.
It is important for shareholders to attend the AGM, as they have the right to vote on important matters such as the appointment of directors and the approval of the financial statements. If a shareholder is unable to attend the AGM in person, they may be able to participate by proxy, or by giving someone else the authority to vote on their behalf.