The Annual Shareholders’ Meeting (ASM) Observation Study is an annual project of the Shareholders’ Association of the Philippines (SharePHIL) to observe the conduct of the ASMs of selected listed corporations. This is line with the Association’s advocacy of promoting good governance practice among companies and protecting minority shareholders’ rights.

The stockholders meeting is enshrined in corporation law and regulatory frameworks as part of the governance infrastructure among publicly listed corporations to protect the rights of ownership of shareholders. In this annual event, they can influence the governance of companies and exercise the right to determine the fundamental composition of the board, elect external auditors and approve the general acts and resolutions of the board and amendments to the company’s charter documents.The 2017 ASM study covered 44 investee companies in which SharePhil has investments and it focused on the observations of the actual meeting proceedings and monitoring of pre- and post-meeting Information Disclosures that are an essential part of the end-to-end ASM governance process.