Abstract:
This article discusses the key considerations for legal practitioners advising on a shareholder-requisitioned meeting to reconstitute the board of directors of a company listed on the Singapore Exchange Securities Trading Ltd (“SGX”). It examines the legal and regulatory requirements under the Companies Act 1967 (2020 Rev Ed) and the SGX listing rules, as well as the practical challenges and issues that may arise in the process of tabling resolutions and reconstituting the board. It also touches on the proposed amendments to the SGX listing rules by the Singapore Exchange Regulation, aimed at facilitating shareholder-requisitioned meetings and enhancing shareholder engagement and value in SGX-listed companies. The article provides a comprehensive overview of the current and potential future landscape of shareholder activism in Singapore, highlighting the importance of meticulous planning and execution of shareholder-requisitioned meetings and the role of shareholders in shaping the direction of companies.