With the COVID-19 pandemic causing such widespread upheaval to daily life, the annual meeting is yet another area that has been impacted. For many organisations – whether listed or not - the AGM is a legal or constitutional requirement, but holding the traditional, physical meeting is just not an option. Governance professionals are needing to get up to speed quickly with the alternatives, including the option of holding a virtual AGM.
Kerry Leighton Bailey, Chief Marketing Officer at Lumi said “It is clear that whilst there is advice around the legalities of holding a virtual AGM, there is a lack of practical information available to those considering turning to virtual, to allow their shareholders and members to engage, ask questions and cast their votes in the same way as if they were attending in person. This is the reason behind the launch of the Lumi Virtual AGM Knowledge Hub”
The Virtual AGM Knowledge Hub is a centralised resource of information to help Issuers, Associations and anyone involved in the organisation of an annual meeting find information relating to virtual AGMs. This includes case studies, product guides, films and infographics. The portal is public, allowing anyone to read, download and share the information freely.
Virtual AGM technology has been used for several years, and Lumi facilitated the first electronic AGM for Jimmy Choo in 2016. The technology has varied in adoption rates in different regions of the world, and whilst it offers a short term solution during the COVID-19 pandemic, it also offers a solution to declining shareholder numbers at in-room AGMs, to continue to allow organisations to engage with their shareholders or members.
The Virtual AGM Knowledge Hub can be accessed via the homepage at lumiglobal.com