MALAWI STOCK EXCHANGE PUSH FOR VIRTUAL ANNUAL GENERAL MEETINGS

Malawi Stock Exchange (MSE) has said it is exploring ways in which listed companies could host their Annual General Meetings (AGMs) in the safest mode possible as a precaution against spread of Covid-19.

The ideal options include virtual conferences according to the local bourse.

MSE Chief Executive Officer, John Kamanga, said they are discussing with listed companies on the available options.

He said if companies fail to hold the AGMs within the stipulated timeframe, other modalities will be explored, especially meetings where not more than 100 shareholders would attend.

Last week, one of the listed companies, Standard Bank Malawi plc, announced that shareholders will receive the 2019 annual report using digital means.

Standard Bank Head of Marketing and Communications, Thoko Unyolo, said the decision was made to minimise physical interaction and contact as part of fighting the Covid-19 pandemic.

Minority Shareholders Association of Listed Companies General Secretary, Frank Harawa, said the association is not amused with the decision to host virtual AGMs as some shareholders may not have necessary equipment to participate.