Allied Timbers Zimbabwe holds its 18th Annual General Meeting.

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Allied Timbers Zimbabwe holds its 18th Annual General Meeting.

Allied Timbers Zimbabwe held its 18th Annual General Meeting with its shareholders in Harare yesterday.

The AGM was attended by the Deputy Minister of Environment, Climate, Tourism, and Hospitality Industry Hon B. Rwodzi, Permanent Secretary Ambassador R.T. Faranisi, Forestry Commission (FCZ) Board Chairs Mrs. V. Gundu-Jakarasi, FCZ Director General Mr. A. Marufu, representatives from Corporate Governance Unit, State Owned Enterprises Reform, various stakeholders, and other invited guests.

The AGM was held in accordance with the Corporate Governance Act which states that companies should hold a yearly meeting with their shareholders so as to give a report on their financial performance and strategies.

Definition of AGM

An Annual General Meeting is a yearly gathering of a company’s shareholders. At the AGM, the directors or the Board Chairperson presents an annual report with information for the shareholders about a company’s financial performance and strategies.

Shareholders vote on current issues for instance appointments to the company’s Board of Directors, dividend payments, and executive compensation.

It is the only time that shareholders and executives interact.