General Meeting of Shareholders
The invitation, agenda, supporting documents and proxy forms are made available through the AGM tool at least 30 days prior to the General Meeting. All shareholders receive e-mail notifications informing them when the documents are available in the General Meeting tool. The e-mails are sent to the ‘primary business contacts' registered by shareholders on swift.com. It is therefore of utmost importance that shareholders ensure that their contact details are kept up-to-date at all times. Should you have any questions, please see our instructions on how to register a ‘primary business contact'.
The following documents are made available to the shareholder ahead of the General Meeting:
- the invitation and agenda, including the proposed resolutions for approval by shareholders
- the latest shareholding position of the company
- the Annual Review and the consolidated and statutory financial statements
- a proxy form
- the AGM minutes of the preceding year.
The 2016 General Meeting of shareholders will be held on 9 June 2016 at 11:00 at SWIFT’s registered address at Avenue Adèle 1, 1310 La Hulpe, Belgium.
General Meeting Agenda(s), quorum requirements
Depending on the points addressed on the agenda, the meeting may be an Ordinary- or an Extraordinary General Meeting.
Ordinary General Meetings
An Ordinary General Meeting is an annual meeting during which shareholders are invited to approve the following items:
- the statutory annual accounts and allocation of the results
- the new share value
- the discharge and appointment of the Board of Directors and the discharge & appointment (if required) of the financial auditor.
For resolutions to be adopted, a quorum of at least 50% of SWIFT shares present or represented, and a majority of votes cast, is required.
Extraordinary General Meetings
There are various reasons for an Extraordinary General Meeting to be called. These include modifications to the SWIFT By-laws, as well as additions or amendments to the eligibility criteria for new SWIFT users.
For these kinds of resolutions to be adopted a quorum of at least 75% of the SWIFT shares present or represented, and a quorum of at least 75% of the votes cast, is required.
This Extraordinary General Meeting may take place at the same time and venue as the Ordinary General Meeting.
If one of the quorum requirements, as set out above, is not met at a General Meeting, a second General Meeting shall be called as soon as possible, with at least thirty (30) days’ notice given in writing to shareholders.
Attendance at the General Meeting
All shareholders are entitled to attend the General Meeting in person in order to exercise their powers. Each shareholder must appoint an individual to attend the meeting on their behalf; typically a duly authorised representative of the legal entity. A shareholder may also appoint a third party to represent them at the meeting. This representative can be another shareholder, a member of the SWIFT Board of Directors or any other person the shareholder deems fit to act as their representative.
The shareholder, whether physically present or represented by a third party, shall complete the proxy form that is available through the General Meeting tool. The proxy form must clearly identify the shareholder's name and address, the number of shares and votes they hold in SWIFT, and the name of the physical person acting as their representative. The proxy form must be signed by the shareholder for it to be valid. If the shareholder is represented by a third party, the shareholder will need to send the duly completed proxy form and their voting instructions to their representative. More information and details on proxy forms can be found in the General Meeting tool.
The General Meeting is open to the following other attendees: the Board of Directors, the Chief Executive Officer, the meeting secretary and vote tellers, members of SWIFT management, SWIFT’s financial auditors, and a Notary to the extent necessary.
A shareholder's representative attending the General Meeting must:
- register on arrival and identify himself/herself by way of a valid passport, ID card, or driver's licence. A representative failing to do so may not be admitted
- sign the list of presence
- hand over the proxy form(s) duly completed and signed by the shareholder that he or she represents
- sign the list of shareholders that he/she represents for acknowledgement of receipt.
In the event that SWIFT receives a proxy form directly from a shareholder, SWIFT will inform the representative and take that proxy form into account.
Each representative receives a voting form for each proposed resolution on the agenda. The voting form indicates the number of shares/votes that the representative holds. Each share present or represented at the meeting gives the right to one vote.
Representatives must make their own travel and hotel arrangements. SWIFT is unable to give financial assistance to representatives.
Functioning of the General Meeting and voting rules
The Chairman of the Board of Directors, or in his or her absence the Deputy Chairman of the Board of Directors, shall be the Chairman of the General Meeting. At the start of the General Meeting, the Secretary and two vote tellers are formally appointed.
Any representative can take the floor and ask questions related to the agenda points of the meeting. Before addressing the meeting, the representative must clearly state his/her name and the name of the shareholder on behalf of which he/she is speaking.
Minutes of the General Meeting are issued following the meeting. The minutes of the meeting include the number of shares represented and the number of votes cast for and against each proposed resolution. The minutes of the meeting are made available to all shareholders through the General Meeting tool.
For any questions related to the General Meeting, please contact firstname.lastname@example.org.