AGMs

AGM – scope for change

There is an excellent FT article on AGMs  https://www.ft.com/content/1209fa2f-30a9-4a16-bcee-65743814acc2 (11 June 2020) which quotes me in some detail: Cliff Weight, from the individual shareholders group ShareSoc, says he is concerned that some companies see AGMs as a “waste of time and unnecessary, apart from the formalities” required by law. He fears some will use the disruption caused by the pandemic to rubber stamp bad practices, such as by making it harder for investors to question the board. ShareSoc believes a move towards live AGM ...

FT, 11 June 2020, Coronavirus Casts Doubt on Future of AGMs

There is an excellent FT article on AGMs  https://www.ft.com/content/1209fa2f-30a9-4a16-bcee-65743814acc2 (11 June 2020) which quotes me in some detail: Cliff Weight, from the individual shareholders group ShareSoc, says he is concerned that some companies see AGMs as a “waste of time and unnecessary, apart from the formalities” required by law. He fears some will use the disruption caused by the pandemic to rubber stamp bad practices, such as by making it harder for investors to question the board. ShareSoc believes a move towards live AGM ...

AGMs – a great webinar from CSFI

I think you will find this well worth listening to. It is 46 mins. It is a bit technical, so educational for some ShareSoc members and intellectually stimulating for others. CLICK HERE TO WATCH The CSFI has produced a new discussion, titled 'Virtual AGMs: just the start of overdue changes in the way companies communicate with shareholders' Why you should watch: Technology has made it easier to run virtual AGMs, but barriers remain between the end investor – especially in pooled accounts – and ...

Laggard Direct Line Group: How Not to Do Covid-19 Affected AGMs

In common with many other companies, Direct Line Group has "taken the easy way out" of handling its AGM when shareholders cannot attend in person due to Covid-19 restrictions. In this announcement of 21st April, Direct Line confirms that shareholders will not be able to physically access their AGM. Only proxy votes may be submitted. Direct line also say: Shareholders may send any questions about the business of the AGM to the Company Secretary at the Company's registered office or by email to ...

LeaderShell: Leading the Way for AGMs in Covid Times

Shell has today announced a webcast for all shareholders, ahead of the proxy voting deadline for its AGM. It's slightly disappointing that only written questions will be taken, preferably submitted ahead of the webcast. It's also a bit of a concern that the webcast is only two days before the proxy voting deadline, which may not be sufficient time for those holding shares in nominee accounts to submit their votes. It is understandable that Shell may not have been able to set ...

FT 20 April 2020, AGMs in these Covid times – ShareAction

ShareAction has written to FTSE100 Chairs, concerned that two out of three FTSE100 annual general meetings (AGMs) announced so far are going behind closed doors, indicating a trend of shareholders being shut out in the context of Covid-19. Companies including BAE Systems, HSBC and Next are holding AGMs with two members of the board physically present, without giving shareholders the opportunity to participate virtually. In contrast, Taylor Wimpey, RBS and others have taken steps to ensure that shareholders are heard and answered ...

AGMs and impact of Covid-19

By Cliff Weight, ShareSoc Director This is a complex area. It would be good to hear your views and ideas. Please add them via the comments box below this...

FT, 12 March 2020, AGMs Impacted by Coronavirus

FT quoted Cliff Weight and reported that HSBC warns of potential disruption to AGM from coronavirus- UK-listed groups consider options in case of restrictions to mass gatherings. see https://www.ft.com/content/f9233d54-63b6-11ea-b3f3-fe4680ea68b5 Cliff Weight, director of investor group, ShareSoc, which on Wednesday postponed its own annual meeting until July, said: “There is no doubt that elderly people are more at risk and many of those attending AGMs fall in the high-risk category, so they and many others may choose not to attend.”... ...Mr Weight said companies that ...