TRACEY DAVIES: Virtual AGMs: a nice idea, but …
Getting the virtual format right is central to preserving the core purpose of the company AGM
28 May 2020 - 05:00
The AGMs of listed companies are an essential opportunity for shareholders to interact with the board and management in a public forum, and to hear the views and concerns of other shareholders. They are, therefore, a crucial mechanism of accountability.
Covid-19 has thrown long-standing AGM practices into disarray, but SA corporate law, unlike that of many other jurisdictions, already provides for an electronic or virtual AGM. The big question is whether companies will embrace the potential for enhanced participation that such AGMs provide, or use them to frustrate shareholder engagement...
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