Description
- An E-Extraordinary General Meeting (EGM) is a virtual meeting conducted by a company to address urgent or significant matters that require shareholder approval, outside of the Annual General Meeting (AGM). It enables shareholders, directors, and stakeholders to discuss and vote on critical issues remotely via digital platforms, ensuring compliance with the Companies Act 2016 while providing convenience and accessibility.
GOV Department
- Suruhanjaya Syarikat Malaysia (SSM) / Companies Commission of Malaysia
License Name (Malay)
- Mesyuarat Agung Luar Biasa Elektronik (E-EGM)
Details
- E-EGMs are called to address specific matters such as amendments to the company constitution, approval of mergers, appointment/removal of directors, or issuance of shares.
- Notifications and relevant documents must be sent to shareholders at least 14 days before the meeting.
- A secure and interactive platform must be used to facilitate participation, voting, and discussions.
- Minutes of the meeting must be documented and submitted to SSM if required.
Important Rules
- Shareholders must receive sufficient notice, detailing the purpose, agenda, and meeting link for the E-EGM.
- Equal access to the virtual meeting platform must be provided to all participants.
- Voting must be conducted transparently and securely, ensuring every shareholder’s vote is accurately recorded.
- Decisions made in the E-EGM must comply with the Companies Act 2016 and the company’s constitution.
- Proper records and resolutions passed in the E-EGM must be filed with SSM, if applicable.
Compound & Punishment
- Failure to conduct an E-EGM for critical matters as per the Companies Act 2016 may result in:
- Fines up to RM50,000 for the company and its directors.
- Resolutions passed without proper procedures may be deemed invalid and subject to legal challenges.
- Mismanagement of the meeting, including inadequate notice or technical issues, may lead to regulatory penalties or disputes from shareholders.
Advisor
Jeffrey Eh Hao Yih , Director
Jeffrey has been providing expert guidance for businesses dealing with ongoing challenges. With his expertise, he aids clients in strategic business planning, streamlining operations, and enhancing productivity. Additionally, Jeffrey offers diverse business technology services to help digitize traditional businesses effectively.
Commonly Asked Questions
An Extraordinary General Meeting (EGM) is a company meeting held to decide urgent matters that cannot wait until the Annual General Meeting. Conzlab provides E-Extraordinary General Meeting (EGM) services to help companies in Malaysia manage meetings online smoothly.
A company needs an EGM for important decisions such as director changes, constitution amendments, or urgent approvals. Conzlab assists businesses in preparing and conducting EGM properly according to company law.
Companies can hold an EGM online using secure platforms for notice, voting, and resolutions. Conzlab offers a full E-Extraordinary General Meeting solution to run your EGM virtually with compliance and support.