The COVID-19 pandemic has altered and changed many familiar corporate operational and governance practices and norms, including how issuers host their annual general meetings (AGMs). Broadridge Financial Solutions reported hosting 300 virtual meetings in 2019 and approximately 1500 virtual meetings this year thus far.
In place of in-person only AGMs, issuers have two options: (1) hybrid AGMs that provide both virtual and physical meeting platform options and (2) virtual-only AGMs implemented through electronic means such as the use of live webcasts and teleconference lines. Virtual-only AGMs have proven to be the most popular option for many issuers since the declaration of COVID-19 as a global pandemic. Many issuers’ are opting for virtual-only AGMs as part of their commitment to acting in compliance with the directives from public health and government authorities for in-person gatherings and social distancing.
Click here to read more about the challenges shareholders have identified during virtual-only meetings.