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IFLR’s coronavirus resource
Coronavirus-related disruption to AGMs [annual general
meetings] poses a headache for shareholders if they wish to
take the company in a different direction.
Covid-19 has spurred a rethink for companies throughout
Europe following legislation that impacts public meetings being
implemented. This has meant that companies have had to revise
their AGM plans, with shareholders risking lost influence.
"Access to remote voting and participation during the AGM
differs between companies. In the best-case scenario, even if
intervention during the meeting is allowed, it’s
not the same as posing a question in person. There is less
visibility and a risk that the company filters the questions or
does not answer properly," said Juan Prieto, managing director
of Spanish proxy advisor Corporance.
"There are also issues surrounding the identification and
entitlement of the shareholder, which is vital, especially
regarding institutional investors,...