As the COVID-19 pandemic has continued to impact every aspect of our lives, companies have had to change the way shareholder meetings (“AGMs”) have been held. Will this be the new “normal” or will companies go back to the old way of doing things prior to COVID-19? At this point, only time will tell, as companies continue to grow and evolve during these uncertain times.
In terms of the King IV Code on Corporate Governance, the Board is required to oversee that the organisation encourages proactive engagement with shareholders, including engagement at the AGM. What this previously meant is that a day would be blocked out in the calendar for the organisation to meet with shareholders at a venue big enough to accommodate the vast number of shareholders (or proxies) that may attend.