08-12-2021, 12:35 PM
They have five months from 31 October (EOFY) to hold the AGM. When do you think they should hold it? Jan 6th when everyone is on holidays? You're jumping at shadows on this.
Having a quick look at some previous AGM dates:
25/2/2019
24/2/2020
Let's look at a few practicalities:
Accounts: They will take time to finalise and then prepare for audit. Depending on their complexity and any information required by third parties (eg re-valuations) let's say this could take 6 weeks.
Audit: Auditors would have started their prep in Sept/Oct, however, onsite and actual audit could take 3-4 weeks - depending on complexity.
That's 10 Weeks - say 14th December. This process is also assuming that in the period, the Board has signed off on the accounts to recommend to the members.
Annual Report needs writing. This will be in progress while the audit is taking place, however, numbers can't be added until the audit is complete.
Annual Report needs to be finalised and printed. (yes, there is a reduction in how many are printed, but I am sure they would still need to do some, as it has to be available).
Need to send AGM notices with 21 days notice to members with the annual report and AGM agenda.
This takes us to January.
Melbourne is on holidays until school goes back.
Sometime in Feb is a practical time. Look at the timing of listed companies AGM's as a comparative. When was the last AGM held in July for a 30 June year end?
Having a quick look at some previous AGM dates:
25/2/2019
24/2/2020
Let's look at a few practicalities:
Accounts: They will take time to finalise and then prepare for audit. Depending on their complexity and any information required by third parties (eg re-valuations) let's say this could take 6 weeks.
Audit: Auditors would have started their prep in Sept/Oct, however, onsite and actual audit could take 3-4 weeks - depending on complexity.
That's 10 Weeks - say 14th December. This process is also assuming that in the period, the Board has signed off on the accounts to recommend to the members.
Annual Report needs writing. This will be in progress while the audit is taking place, however, numbers can't be added until the audit is complete.
Annual Report needs to be finalised and printed. (yes, there is a reduction in how many are printed, but I am sure they would still need to do some, as it has to be available).
Need to send AGM notices with 21 days notice to members with the annual report and AGM agenda.
This takes us to January.
Melbourne is on holidays until school goes back.
Sometime in Feb is a practical time. Look at the timing of listed companies AGM's as a comparative. When was the last AGM held in July for a 30 June year end?