AGM season is almost upon us and we have a number of clients for whom we’re once again booked in to provide our transcription services.
It looks like the 2022 season is set to be an interesting one as businesses adapt and change following the last couple of years of upheaval. We’re seeing a return to in-person events again, after temporary relaxations to meeting attendance requirements were introduced thanks to the Corporate Insolvency and Governance Act 2020.
But with the world focusing on a new way of working and all the talk of hybrid working, is this something that can be replicated in AGMs? Can hybrid events work as well as in-person events?
Are hybrid AGMs possible?
Hybrid AGMs aren’t particularly common outside of the last two years, but there is a pre-pandemic precedent: in 2016, luxury fashion house Jimmy Choo plc held a virtual AGM in accordance with enabling provisions in its Articles. This was the first time we’d seen this type of virtual event in the UK and events of this type hadn’t gained much traction since then.
But perhaps that is about to change, thanks to the legacy of Covid?
Some UK organisations have suggested that they are either looking to introduce new provisions into their Articles so that hybrid meetings are permitted, or they have already made the necessary changes. This has meant producing documentation of any procedural matters that could potentially have an impact on how these meetings are held.
How can you run a hybrid AGM successfully?
There are some considerations that must be made if a hybrid AGM is to be successful:
- All event attendees must be able to participate in the meeting on an equivalent basis. Whether they are attending the meeting in a physical location or remotely in a virtual capacity, the experience needs to be replicated equally.
- When it comes to voting, every participant must be able to do so in real time at the meeting. They must also be able to hear the proceedings of the meeting, speak and be heard at the meeting – in other words, it must be a live, real time and interactive event – as opposed to a recording.
- Shareholders should receive fair and equal treatment regardless of whether they are attending physically or electronically.
- For full transparency, organisations should make the necessary provisions for hybrid meetings in their Articles.
Elevate your AGM with Fiona Shipley
With vast experience of recording and transcribing AGMs, our clients get peace of mind that the events are accurately reflected. If you are looking for a professional transcript of your AGM, please contact alex@fionashipley.com.