An annual general meeting (commonly abbreviated as AGM, also known as the annual meeting) is a meeting of the general membership of an organization.
These organizations include membership associations and companies with shareholders.
These meetings may be required by law or by the constitution, charter, or by-laws governing the body. The meetings are held to conduct business on behalf of the organization or company.
An organization may conduct its business at the annual general meeting. The business may include electing a board of directors, making important decisions regarding the organization, and informing the members of previous and future activities.At this meeting, the shareholders and partners may receive copies of the company’s accounts, review fiscal information for the past year, and ask any questions regarding the directions the business will take in the future.
At the annual general meeting, the president or chairman of the organization presides over the meeting and may give an overall status of the organization. The secretary prepares the minutes and may be asked to read important papers. The treasurer may present a financial report. Other officers, the board of directors, and committees may give their reports. Attending this meeting are the members or the shareholders of the organization, depending on the type of organization.
In Great Britain it became optional with effect from 1 October 2007 for any private company to hold an AGM, unless its articles of association specifically require it to do so