An Annual General Meeting (AGM) is a meeting held by a company to present its annual report to its shareholders and allow them to vote on various matters related to the company's operations and management. In the past, AGMs were typically held in person, but with the rise of technology and the increased need for social distancing during the COVID-19 pandemic, many companies turned to virtual AGMs as a way to continue holding these important meetings while keeping their shareholders and employees safe.
A virtual AGM is an AGM that is held online, using video conferencing software or a virtual platform. This allows shareholders to attend the meeting remotely, from the comfort of their own homes or offices. The virtual AGM may be held in real-time, with shareholders joining the meeting via a live video feed, or it may be pre-recorded and made available for shareholders to watch at their convenience.
One of the main benefits of a virtual AGM is that it allows shareholders to participate in the meeting without having to physically travel to the location where the AGM is being held. This can save time and money, and it also allows shareholders who may not be able to travel, such as those with disabilities or those who live far from the company's headquarters, to still participate in the meeting.
In order to hold a successful virtual AGM, a company needs to ensure that its virtual platform is reliable and easy to use and that it has the necessary technical support in place to assist shareholders if they encounter any issues. The company should also provide clear instructions on how to join the virtual AGM and make sure that all necessary materials, such as the annual report and any relevant documents, are made available to shareholders in advance.
In summary, a virtual annual general meeting is an online meeting that allows a company to present its annual report to its shareholders and allows them to vote on various matters related to the company's operations and management without the need for physical attendance. This can be a convenient and cost-effective way for companies to hold AGMs, especially during times when in-person meetings may not be possible.Lumi is a global leader in providing software and real-time audience engagement technology for Annual General Meetings (AGMs) for companies, associations, legislative bodies, membership organizations, and partnerships. With patented technology and a range of software, hardware, and services, Lumi helps registrars and event organizers to register delegates, conduct live polling, manage Q&A sessions, and provide relevant reporting.