On 5 May 2020, the Government updated the Regulation that governs gatherings in Hong Kong and these updates will affect the way in which shareholder meetings can be conducted.
Although the updates to the Regulation increase the size of permitted gatherings to 8 persons, shareholder meetings of more than 8 persons are specifically permitted to exceed this limit provided:
- the meeting is required to be held within a specified period in order to comply with law or other regulatory instrument; or
- if it is a shareholder meeting of a company that is listed on the Hong Kong Stock Exchange, it is held in accordance with law or other regulatory instrument,
- and, in any event, no food or drink is served.
If there are more than 50 attendees at the shareholder meeting, measures must be put in place to separate the attendees in different rooms or partitioned areas, each accommodating not more 50 persons.
These updates will take effect on 8 May 2020 up to 21 May 2020.