2021 AGM extension due to COVID-19 restrictionsHLB Thailand Legal Team
The Department of Business Development (DBD) has announced an extension of up to one month for holding an Annual General Meeting that was scheduled to be convened between 26 to 30 April 2021 but is postponed due to the government restrictions on gatherings due to the COVID-19 pandemic.
Such restrictions exist in 18 provinces: Bangkok, Chiang Mai, Chonburi, Samut Prakan, Prachuap Khiri Khan, Samut Sakhon, Pathum Thani, Nakhon Pathom, Phuket, Nakhon Ratchasima, Nonthaburi, Songkhla, Tak, Udon Thani, Suphanburi, Sa Kaeo, Rayong and Khon Kaen.
The extension applies if notice was given to convene the meeting between 26 and 30 April 2021 before the government restrictions were enforced.
For companies that reschedule their AGM pursuant to this extension, the due date for filing the list of shareholders at the date of the AGM and their financial statements with the DBD will be based on the actual date of the AGM.
Limited companies are required to file a list of shareholders at the date of the AGM with the DBD within 14 days of the AGM date, and the financial statements approved at the meeting must be filed within 1 month of the AGM date.
Therefore, if the AGM of a limited company was originally scheduled for 30 April 2021, and is rescheduled to 30 May 2021, the shareholder list must be filed within 14 June 2021 and the financial statements must be filed with the DBD by 30 June 2021. The DBD must be informed of the extended AGM date at the time of filing.
Companies do have the option of holding their meetings online, in accordance with the rules introduced last year in response to the COVID-19 pandemic.