Shocker! More Companies Holding Virtual-Only Shareholder Meetings, I just dug out a good half-dozen companies that have conducted all-virtual annual meetings this year that I didn’t know about. Sign up for September program, Holding the Virtual Annual Meeting: Factors to Consider and Practice Pointers. (theCorporateCounsel.net/Blog, 7/8/10)
Reminder: Shareholder Forum’s open meeting on July 13, 2010. Advance registration required. See my previous post, Shareholder Forum on eAGMs. Considerations include:
- Does every shareholder have equal access to information relevant to the election of directors and other matters to be decided at the meeting?
- Does the company provide shareholders with reasonable opportunities to present questions relating to matters that will be decided at the meeting?
- Does the company provide shareholders with a reasonable opportunity to present questions or views publicly if they choose to do so?
- Are all shareholders able to observe the reactions of responsible managers or director nominees, as appropriate, to publicly presented shareholder questions and views?
- Assuming that the judgment of fairness is to be made independently by each investor, does the shareholder have a reasonable opportunity to present questions and views relating to the communication process itself?
- Are all shareholders able to observe any questions and responses concerning the fairness of communications prior to their decisions on the matters being addressed?
And from David A. Silverman, Blue Harbour Group, who will be contributing to the Shareholder Forum meeting – Boards and executive managements considering an emeeting should attempt to identify some clear goals they have for the extension of the annual meeting to electronic communication. Possible goals might include:
- A forum where the company can reach shareholders with whom they are not otherwise able to communicate effectively.
- Creating a record of availability.
- Creating a relationship with the governance groups at larger shareholders.
- Creating a relationship with shareholders outside of intermediaries.