A Company Secretary role can be more complex than you realise, with a longer list of duties than you would think – it isn’t just about taking notes at meetings! Their knowledge about the organisation must be extensive: from being fully up to speed with all financial and legal aspects of the business to collating important documents.
One of the most important aspects of the role is around the AGM – both for the planning in the lead up to the event and at the meeting itself. They’ll either do this in isolation or an Investor Relations department may act as an extended team that provides assistance by holding quarterly results presentations to investors and analysts.
AGM preparation is key
If you’re legally required to hold an AGM – they are a legal requirement for most companies including public companies and private companies that are traded – the meeting needs careful planning.
As the meeting is an annual forum where audited accounts are presented and approved, any new directors are elected, and if necessary auditors for the new accounting term are appointed, some key factors need to be considered to ensure the timing works and the meeting is fully compliant with any regulations.
The following factors may come into play when organising an AGM:
- What notice period is required before the meeting takes place?
- Who must be informed about the meeting?
- Must this notice of the AGM be sent to your members’ homes?
- Do you need a specific number of attendees to make the meeting official? (This is called the quorum)
- Do you need the company accounts to be independently examined (or audited) before the AGM?
- Are new committee member nominations to take place at the meeting or must they be taken in advance? (In most instances you will need to have a proposer and seconder for each nomination)
- Should an attendee wish to propose an amendment to the constitution is there a notice period required?
Keep this checklist to hand
We’d advise you make a note of the following to cover your requirements:
- what information is necessary for the AGM agenda, and how and when that information should be received and published
- the reports your board, chair, treasurer, auditor and CEO must provide at the AGM
- how to appoint an auditor – the process involved
- process and timeline for director and office bearer nominations
- who is eligible to vote
- voting process and announcements
Beyond the organisation of the meeting you should also think about the venue:
- Is it accessible to all your members?
- Will refreshments and other facilities such as break-out rooms be available?
- Can it meet your Audio-Visual requirements?
- Will you record the event?
Planning your next AGM with all of these factors in mind will help ensure you achieve what’s needed.
Book Fiona Shipley for your transcription service
We work with a number of clients for their AGMs, helping them to keep a record of the event for future reference. This is especially important for continuity year on year – having a full record of what happened at a previous AGM makes it much simpler to assess progress and refer back to decisions or suggestions.
The Fiona Shipley team provides a full transcription service. Whether you need us to attend the event itself and record it for you using our state of the art, high quality recording equipment, or create a transcript from your own recording, we can produce a professional transcript of the meeting within your timescale.
Get total peace of mind to cover the whole process by getting our team involved. Your Board will not only have an accurate record of exactly who said what at the AGM, but you’ll also have valuable content that can be re-used in the future. It may form part of additional reports, be an aid to marketing or assist with online content.
Providing AGM transcription has formed an integral part of our transcription service for the last 33 years, and will continue to do so for years to come. To find out more or to book in your AGM, please call us on 01737 852 225 or email alex@fionashipley.com.