On June 13, 2011, ACGA submitted a response to a Singapore Exchange (SGX) consultation paper on proposed rule changes on general meetings to increase shareholder engagement and introduce voting by poll.

ACGA analysed and offered responses on all four proposals:

• Issuers with primary listings in Singapore should be required to hold shareholder meetings there;
• Listing companies should be required to vote by poll on all resolutions at all general meetings;
• Issuers shall announce immediately after each general meeting the outcome of the voting; and
• Amending the relevant Catalist Rules arising from the above proposals

We supported all the above proposals with the exception of providing a grace period for smaller issuers until January 1, 2014.