Online Annual General Meeting
Experience shows that general meetings, especially those of listed companies, require a large amount of organisation and incur considerable costs. Because from renting the premises, to providing personnel, catering and much more, a general meeting involves considerable effort, holding an online general meeting is becoming an increasingly attractive option, especially in times of social distancing. Not only for reasons of resource conservation.
Legal basis for a virtual general meeting
The Covid 19 Measures Act has already allowed the holding of an online Annual General Meeting since 28 March 2020.
How does the VR concept work?
An online annual general meeting, held using virtual reality technology, can be easily attended from home via smartphone. A 3D model of an event room is created. This is available to shareholders for a limited period of time. All the shareholders need is a smartphone of the latest generation. But access is also possible via a PC. The organizer will send the shareholders a code and an interface, for example: Google Cardboard. So that they can then attend the online Annual General Meeting. Not only lectures can be listened to at this Annual General Meeting. All information of interest to shareholders is also available. It can be viewed by the participants at their leisure.
The design of a cinema hall or stage is also possible. Live lectures can be watched here, if this is desired. Alternatively a presentation can be recorded. This is then available for shareholders to view for a limited period. The presentation can be paused and continued at a later time. Accompanying information can be provided in addition to the actual meeting. It can be viewed separately by shareholders upon request.
Experience reports have been available for years
Eight years ago, the first online Annual General Meeting in Germany celebrated its premiere. The EQS Group was the first listed company to hold its Annual General Meeting on the Internet. Since then, participants have been able to follow the shareholder meetings on their mobile devices. In addition, voting and the right to ask questions can also be exercised online.
The EQS reports to have made consistently good experiences so far and also reports a high acceptance by private investors. This is because the initial fear that shareholders would ask a difficult number of questions has not come true. But also the concern of a high number of technical problems has proven to be unfounded.
All formal requirements are met by the format provided by EECS.green:
- Image and sound transmission of the entire event
- Secure authentication process
- Digital transmission of powers of attorney up to online voting
- The possibility of asking questions in text form via digital communication channels, so that they can then be read out and answered by the Executive Board.
- In the run-up to the meeting: sending of the electronic access data to the Internet shareholder portal to the shareholders.
Due to the easy handling the concept is suitable for every age group.
We would be happy to discuss with you how to turn your annual general meeting into an online general meeting.