What is an Annual Meeting of Members? (AMM)
An annual meeting of members (AMM) is a yearly meeting of Members. At the AMM, the directors of the company present an annual report, which contains information for Members about the company’s performance and strategy. Members vote on current issues, such as appointments to the company's board of directors, approval of changes to the company’s By-laws (if any) and selection of auditors.
Members who do not or cannot attend the meeting may vote by proxy, which can be done online or by mail.
Meeting agenda.
The following items, by law, must be discussed at the AMM:
- Minutes of Previous Meeting: The minutes of the previous year's AMM must be presented and approved.
- Financial Statements: The Corporation presents its annual financial statements to its Members.
- Election of the Board of Directors: The Members elect or re-elect the board of directors for the term as set out in the company’s By-law.
Several other elements may be added to the agenda. Often, the company's directors and executives use the AMM as an opportunity to share their vision of the company's future with the Members.