The virtual AGM is increasing in popularity, and several companies are mainly adopting the online AGM method of communicating with other shareholders. The annual general meeting, otherwise known as the annual shareholder meeting, is often a required yearly meeting for its shareholders. During this meeting, the shareholders vote on some of the key company operations. Virtual AGM is similar to the in-person shareholder meeting.
Tips to consider for the virtual AGM
If any company is considering moving to a virtual AGM, they need to consider some of the below aspects.
- The full image and sound broadcast for the entire event
- The secure and safe authentication process
- The digital transmission of the proxies up until the online voting
- There must be the option to send the questions in text form via the digital communication channels, which can be read out and mainly answered by the board.
- Before the meeting, the user should send electronic access data to many different shareholders to access the online shareholders portal.
Difference between the virtual and in-person meetings
Virtual meetings mainly allow the shareholders to participate in the annual general meetings. This also provides them the same set of privileges and transparency as in the case of in-person AGMs. The structure of the virtual AGM and the tasks on the list also remain unchanged. Companies must record their virtual annual general meetings as they are the legal proceedings.
Before finalizing, the technology to be used for the virtual AGM should be chosen after researching it. The technology chosen for the virtual AGM should allow all the shareholders to participate and interact in an even manner. This particular technology is mainly useful in this pandemic time.