Virtual Shareholder Meetings
A Cost-Effective Solution for Australia Companies
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August 22, 2022
Virtual Shareholder Meetings
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Virtual shareholder meetings, including Annual General Meetings, have become increasingly popular and often necessary for Australian companies. Available options are generally limited to costly outsourced fully integrated voting/meeting platforms, or simple do-it-yourself alternatives. FTI Consulting’s Strategic Communications practice provides a cost-effective solution for a professionally managed virtual shareholder meeting.
Virtual Shareholder Meetings
COVID-19 related restrictions on social gatherings in the last couple of years have resulted in increased adoption of virtual technologies for shareholder meetings, which have continued as restrictions have lifted.
ASIC has issued guidelines on how hybrid and virtual meetings should be conducted for AGMs and other meetings of company or scheme members. Virtual meeting technology may be used in holding a Chapter 2G meeting, provided the technology gives the persons entitled to attend the meeting a reasonable opportunity to participate without being physically present in the same place. This includes the opportunity to ask questions orally, and cast votes during the meeting.
One Size Does Not Fit All
Companies wishing to use virtual technologies to hold virtual or hybrid shareholder meetings, consistent with the ASIC guidelines, have had limited choices to date. An outsourced fully integrated virtual meeting /voting technology platform provides a complete solution; however, is generally prohibitively costly for small and mid-sized companies. The alternative is a low-budget, DIY virtual meeting, which may pose its own logistical, technology, and resourcing challenges, which can reflect poorly on a company's professionalism.
The FTI Consulting Hybrid and Virtual Meeting Solution
FTI Consulting assists clients with communications around key shareholder meetings as a part of its broader strategic communications advisory services. We understand the challenges and limited options available to small and midsized companies seeking to hold virtual shareholder meetings. FTI Consulting offers a professionally managed virtual meeting solution at a significantly lower cost than fully integrated outsourced meetings.
Related Information
Published
August 22, 2022
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Strategic Communications