OCBC to hold virtual AGM on May 18

OCBC Bank's annual general meeting (AGM) will be held virtually on May 18, the lender told shareholders in an announcement yesterday.

It is the second local bank to state its virtual AGM plans, after DBS Bank did so in mid-month amid the coronavirus outbreak.

OCBC said earlier this month that it would postpone the meeting, which had been scheduled for April 30, pending changes to the law and rules on safe distancing and AGM teleconferencing.

Now, the bank has confirmed that shareholders cannot attend the AGM in person. Instead, they must pre-register for live audio-visual or audio-only broadcasts of the proceedings by 2pm on May 15.

Investors will need to provide the bank with their full names, addresses, number of shares held, and whether the shares are held via the Central Depository, Central Provident Fund or Supplementary Retirement Scheme, or scrip.

Shareholders attending the virtual AGM will not be able to vote online, and can do so only by proxy.

A proposed final dividend of 28 cents a share is among the items on the agenda.

Proxy forms and any questions on the annual report must be received by the same time as pre-registration. Questions can be sent to OCBCAGM2020@ocbc.com or 65 Chulia Street, #08-00, while proxy forms are available online and should be submitted by either self-addressed envelope, or in an e-mail to share registrar M & C Services at GPC@mncsingapore.com

"In view of the current Covid-19 situation and the related safe distancing measures which may make it difficult for shareholders to submit completed proxy forms by post, shareholders are strongly encouraged to submit completed proxy forms by e-mail," OCBC said in a fact sheet.

Verified shareholders will get a password and online link for the webcast, or a toll-free telephone number and a conference code for the audio-only stream, over e-mail by noon on May 17.

If registered shareholders do not receive the confirmation e-mail, they can send an e-mail to the share registrar. They can also call 6228-0505 or 6228-0517.

OCBC said: "Unfortunately, the bank needs to prepare for the AGM logistics based on circumstances prevailing as at the latest practicable time before the issue of its notice of AGM.

"Hence, shareholders will not be able to attend in person even if the situation improves by the AGM date."


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