Short name of Annual General Meeting is called AGM. Its hold once in a year, for the new company might within 18 months and old company within 12 months of calendar year. Some places AGM is hold in birthday of the company. The rules might be little bit changes country to country but scenario is almost same everywhere. A notice is published in news paper or official circular around 1 week or 2 weeks before AGM date as invitation of the share holders and directors of the company. Most of the time auditor is invited to attend in AGM also as law or honor. The following agendas are discussed in AGM:
- Audited accounts approval of the year
- Appoint new director (s)
- Reappoint of director (s)
- Appoint or reappoint auditor
- Directors or company profile
- Declare dividend of the year
- Declare right of shares or debenture
- Miscellaneous (if any serious agenda)
The said agenda (s) have to pass by voting of the majority share holders and consent of the share holding directors of the company. Each share holder might have right of one vote. Sometimes proxy vote might be allowed with consent of the company.
All necessary paper works are done by Company Secretary. He/ She may be share holder of the company or may not, depend on Act of the country.