On August 10, 2018, Computershare Canada successfully scrutineered its first fully virtual annual general meeting, with the shareholders attending the meeting, accessing materials, voting, asking questions and making comments live from their desktops, smartphones and tablets.
Although virtual and hybrid meetings have been allowed in Canada for years, it's only recently that we've seen interest from issuers. With increasing cross-border investment, the geographic spread of investors, and the growing influence of the millennial generation on digital adoption in financial services, we can expect that more and more issuers in Canada will explore the option of using digital channels for their shareholder meetings and communications.
A virtual meeting is conducted fully online with no physical venue for shareholders to attend. With a virtual meeting, an issuer is only required to have the Chair, Corporate Secretary and select board members present at the in-person meeting. This saves the costs of the venue, logistics, travel and accommodations.
By contrast, a hybrid meeting offers the option of online participation in addition to a traditional in-person meeting through the simultaneous use of a physical meeting space and remote shareholder participation via webcast using mobile and electronic devices.
In both cases, the virtual meeting option can result in increased attendance as shareholder participation is not limited by geographic barriers.
Computershare has been conducting virtual and hybrid meetings in the U.S. and other jurisdictions for a few years. The United States is leading the charge in the adoption of virtual meetings, with the state of Delaware – where a majority of American public companies and two thirds of the Fortune 500 are incorporated – providing a clear right of way for companies to do so. Virtual meetings are also legal in over 30 other U.S. states.
In Canada, Computershare's virtual meeting solution addresses local market requirements, and incorporates processes including beneficial shareholder participation through proxy appointments, Q&A administration, meeting archiving and reporting. No matter your shareholder meeting format, Computershare is committed to working with you, your investors and other key stakeholders to ensure delivery of high-quality, secure and cost-effective meetings through all channels.
There is more to organizing virtual and hybrid meetings than simply adding a layer of technology to your in-person meeting. If your company is considering conducting a virtual meeting, or wants to learn more about Computershare's solution, please read our whitepaper, The future of shareholder meetings is virtually here, or contact your relationship manager.
