DBS urges shareholders to attend AGM online

DBS Bank has urged shareholders to watch the virtual broadcast of its annual general meeting (AGM), after the Ministry of Health yesterday announced stricter guidelines on gatherings to prevent the spread of Covid-19.

The online broadcast at 2pm next Tuesday is part of DBS' measures to minimise close contact, the bank said.

It had initially planned for shareholders who want to attend the meeting to pre-register online, but is reassessing its plan, the bank added. "We are suspending registrations for in-person attendance but will continue to accept registrations for the live webcast," it said.

Shareholders can register their attendance for the broadcast on the DBS website.

The ministry said yesterday that groups must not exceed 10 people, among other measures that are its strictest yet.

The money budgeted for gift vouchers and refreshments that were supposed to be given out at the AGM will be donated to healthcare workers.

Shareholders should also check the bank's website for updates on the meeting as the AGM arrangements might be changed at short notice owing to the constantly evolving coronavirus situation, the bank said.

The Singapore Exchange provided guidelines earlier this month on how companies should conduct AGMs. "It is also crucial that the venue is organised in a manner that reduces the crowding of attendees and improves ventilation," it said.

"For example, the seats in the venue should be placed at least 1m apart from one another."

Mr David Gerald, president and chief executive of Securities Investors Association Singapore, said: "(The digital video streaming) will ensure that shareholders will remain updated."

Aw Cheng Wei

A version of this article appeared in the print edition of The Straits Times on March 25, 2020, with the headline 'DBS urges shareholders to attend AGM online'. Print Edition | Subscribe