OCBC Fixes Date for Virtual AGM

The bank will pay its final dividend of S$0.28 per share on June 5, after approval at the AGM. OCBC Bank will hold its annual general meeting on May 18 at 2 p.m. as a webcast or audio-only live stream, the bank said in a letter to shareholders.

Shareholders attending the virtual AGM will not be able to vote online and can do so only by proxy, with the bank encouraging the submission of proxy forms by email, given delays with the postal service.

The meeting was originally scheduled for 30 April, but had to be postponed following government measures that imposed stricter measures about gathering in public, given the Covid-19 virus outbreak.

Singapore is currently under a partial lockdown until June 1, with members of the public only allowed to leave their homes to conduct essential activities.

Singapore Exchange Regulation previously announced an automatic 60-day extension of the deadline for all issuers with financial year-end on or before 31 March 2020 to hold their AGMs, in light of government advisories amid the Covid-19 situation.

OCBC is the second local bank to announce a virtual AGM after DBS, which rescheduled its meeting from March 31 to April 30.