Hybrid and Virtual AGMs: Why and How to Organise Them

The way we work is changing. In 2023, 12.7% of full-time employees were permanently remote, whilst 28.2% worked a hybrid model, involving being at the office some of the time and at home the rest. In fact, a survey shows that 98% of workers want the flexibility to work remotely at least some of the time. 

This culture of hybrid and remote work, along with increasing scrutiny from investors and rising shareholder activism, shapes a landscape where many shareholders seek new and more convenient ways to hold companies accountable. Hence the rise of hybrid and virtual AGMs. 

The traditional model of running a solely in-person shareholder meeting during working hours can also prove challenging in terms of encouraging the attendance needed to create a truly engaging event. And this is why many companies, such as Royal BAM Group, have taken their AGMs online in some form. 

This article explains how virtual and hybrid AGMs can prove beneficial to companies and how to engage in effective hybrid or virtual AGM planning. 

What is the difference between virtual, hybrid and in-person AGMs?

Below are the main differences between virtual, hybrid and in-person AGMs.

Why organise virtual and hybrid AGMs?

There are a number of benefits to organising virtual and hybrid AGMs. They include: 

Higher attendance

In-person AGMs are often held during the workday. For any shareholder that has to travel a significant distance to the location, this can be a barrier to attendance. Particularly if that individual is invited to a number of different meetings during the AGM season. 

Offering an online option requires less of a time commitment and can improve attendance. Investors only have to book out the duration of the meeting in their calendars and can follow and interact at their desks. 

Dutch insurance group a.s.r. holds hybrid AGMs, with the first such iteration attracting 64 in-person attendees and 158 online participants.  

Greater reach

Many issuers have investors based overseas. For example, 57.7% of UK shares are held by parties based in other countries. 

This makes it more difficult for shareholders to attend in-person meetings, and this might in turn reduce demand for an issuer’s shares by foreign nationals. If investors based overseas can engage in a company’s AGM, it makes it more attractive as an investment. 

Environmentally friendly

The sustainability of issuers has never been more important in the European Union, with legislation such as the Corporate Sustainability Reporting Directive (CSRD) coming into force.

As such, reducing the number of participants travelling to an event and being able to cut down on the amount of information packs being printed can be significant in reducing a business’s impact on the environment. 

Engaging

Using a dedicated webcasting platform such as Company Webcast, you can increase shareholder engagement during your meetings by making use of features such as live polls and Q&A sessions that online participants can access. 

This makes attending the meeting in a virtual environment more of an active experience, rather than simply watching the proceedings passively. 

Easy access to content

In a virtual or hybrid meeting, you can distribute the relevant content, such as presentations and other documents, in the meeting platform. This provides easy access to important information that attendees need. The digital format makes it easy to search and organise on the user’s device. 

Cost-effectiveness

In-person events bring significant costs. There is venue hire, for example. If an issuer chooses to hold only an in-person event, they have to book a room large enough for all attendees to fit in comfortably. With a hybrid event, you can opt for a smaller, less expensive venue, as many attendees will participate remotely. 

This also impacts the cost of printing, security, catering and other outgoings that you can downscale when there are fewer in-person attendees. And, of course, for fully virtual events, you can avoid these costs completely. 

The company can also reduce travel and accommodation expenses for executives by opting for a virtual or hybrid AGM. 

Inclusivity

Purely in-person events can be difficult to attend for some people, especially those who need help with accessibility. A meeting with an online element is a more inclusive meeting and can allow more of your shareholding to attend and interact with the company. 

How to plan a virtual or hybrid AGM

Set event goals

The first step for planning your virtual or hybrid AGM is to understand what success looks like. For some issuers, it will be to increase attendance for the meeting. Others wish to increase engagement from shareholders during the event. For a.s.r., the aim was to improve access to its overseas investors. 

Knowing what you want to achieve helps define the process of planning the meeting and understanding the elements that need to be in place. 

Ensure compliance

Different countries have different rules about allowing hybrid or online AGMs, so make sure that it is a possibility in your jurisdiction. For example, the ability to run virtual AGMs is temporary in Ireland has recently been extended until the end of 2024. However, there is a movement to make it permanently allowable.

Check the company’s byelaws, too, for anything that might prevent an AGM taking place in any format other than in-person. 

Prepare a detailed event plan

Consider the timeline for preparing the meeting and your technical requirements. Allow time to search for the right solution, test it and train your team on using it. Set out time for a technical run-through, too. 

Contact your presenters and the executives who will be in attendance. Ask them whether they will be in the room (in the case of a hybrid event) or online. Engage with significant shareholders to set out your plans and the reasons behind the type of meeting you have chosen. 

You should also aim to understand shareholder sentiment and voting patterns to be able to prepare for any potential discussions that may be raised. Find out how your investors are most likely to vote and prepare a plan to mitigate any potential risks. 

Finally, ensure there is a contingency plan in place in case of technology failure.

Set roles and responsibilities

Everyone needs to know their role in the meeting and how they contribute to its flow. For hybrid events, you want to make sure that the experience is the same whether someone is attending online or in person, so you will need people to act as a conduit between the room and the online space. 

Roles that you might need to fill include:

●      Presenter to host the event and work through the agenda

●      Moderator to voice questions from the online audience

●      Attendee supervisor to ensure the online audience is registered and to track numbers

●      Vote supervisor to run online polls and report on the results

●      Technical support team to ensure the platform runs smoothly and online attendees can take part

Create engaging content

Your presentations are a key element for engaging your audience, so make sure you make them eye-catching and informative. Don’t just repeat the text from the presenter’s script as that will lead to attendees simply reading along, rather than engaging. 

This is also where you plan your interactive features. Set up questions and polls that participants can answer and which will help you understand their thoughts and concerns. 

Choose the right hybrid event platform

The right platform for your organisation makes a real difference when it comes to accommodating remote shareholders. Look for features that meet your requirements for the meeting, including the ability to vote, interactive features to keep the output engaging, security and the ability to scale as your online AGM broadcast becomes more popular. 

With its ISO 27001 certification and more than 10,000 corporate events organised each year, Company Webcast helps you ensure secure and seamless broadcasting for your AGMs. An expert team equipped with best-in-class technology supports you throughout the process at your chosen location or at one of Company Webcast’s professional studios. The platform offers voting, polls and other interactive features, and can handle meetings of any size with ease. 

Promote the event

As your event is taking place online, you might want to consider using additional channels to send out your meeting notice. Engage your shareholders through email, social media, your investor website and any other route by which you communicate with them. 

Make sure you spell out how the event will take place, how people can attend, how they cast votes and what the procedure is for asking questions. 

Test the technology

You need to deliver a smooth and seamless experience for your virtual attendees, so make sure you test the technology in advance. This means understanding where the cameras will be and how the sound and lighting work to help people participate. 

It also allows your presenters and other internal stakeholders to get used to the workflow and practice serving both the in-person and online audiences for hybrid events, meaning that they don’t have to worry about logistics when it comes to the actual AGM. 

If you decide to utilise a professional webcasting platform such as Company Webcast, you can use the help of an expert crew during your testing phase to ensure everything is working as expected during your live event. 

Gather feedback

There is always room for improvement, so ask your attendees and your internal stakeholders to provide feedback on their experiences. This helps you streamline the process and better meet the needs of all concerned for future AGMs. 

Challenges to virtual and hybrid AGMs

●      Accommodating the differences in time zones for an international audience. You can use Shareholder Analysis to understand where your top investors are situated and factor that into planning the timing of your event for optimal engagement and attendance.

●      Connectivity and technical issues can reduce the quality of your meeting. Choose a platform that provides strong performance and reliability.

●      You must find a way to facilitate virtual attendee interaction. One reason many shareholders attend an AGM is for the chance to address executives directly, so it may be a good idea to create an opportunity for online networking and interaction.

●      Selecting a venue that supports the in-person attendees but also enables you to broadcast an online feed that is optimised for your virtual attendees.

Tips and best practices for hybrid and virtual AGMs

Engagement strategies

Using the interactive features to their full effect is important. This means plotting live polls that provide meaningful insight and help attendees feel that you are taking their concerns seriously. Ensure there is a route through which they can ask questions and have them put to the panel without it seeming like ‘tough’ questions are being screened out. 

Make your presentations interactive, compelling and informative, and consider using breakout rooms for smaller, more targeted discussions. 

Rehearse

Rehearsal is important for any AGM, whether in-person only or with a virtual element. However, it is essential to be prepared to engage online viewers who require the full AGM experience despite not being in the room. 

The more familiar you are with the equipment and software as well as the many elements of the AGM, the more engaging it will be as an event. 

Security and compliance

Taking an event such as an AGM online can cause concern over the security of the meeting and the vulnerability of sensitive information and personal data. Using a platform that prioritises privacy and data security is essential to provide peace of mind to attendees before they log in. 

Be sure to check the local laws, regulations and corporate governance standards to confirm the compliance of the AGM in your desired form. 

Facilitate effective voting

One of the concerns your shareholders might have about a virtual or hybrid AGM is how they will vote and have their say. Make sure you have a procedure in place to allow them to vote online – in real-time or in advance – in a secure, transparent manner. 

Communicate the process in advance and make sure that your shareholders understand how you will count the votes and report on them, too. 

Provide clear instructions and support

To maintain accessibility for all who want to attend online, provide detailed and clear instructions, spelling out the steps participants need to take to join the meeting. Explain how they can take part in discussions, network with others and vote. 

Have a dedicated contact form for technical support queries and answer them clearly and in good time. 

Record and archive the meeting

Even with the option to join the meeting online, there will be many shareholders who cannot attend. By recording the meeting and embedding it into your IR website, you allow for on-demand viewing from investors who can catch up on the topics discussed. 

It is also a good idea to keep a recording as part of your audit trail and to consider how to improve the process for future meetings.  

FAQ

How can organisations ensure the security of virtual or hybrid AGMs?

Organisations should use secure, encrypted platforms, implement strong authentication processes for participants and follow best practices for cybersecurity to protect the meeting from unauthorised access and data breaches. Choose a platform that offers enhanced security protocols to provide peace of mind to participants. 

How can shareholders vote during virtual or hybrid AGMs?

As with any AGM, you can encourage shareholders to vote in advance, either by post or on an online platform. For those who want to vote in the meeting, make sure you use a meeting platform with voting capabilities so that remote attendees can have their say. 

How can feedback be collected post-AGM?

You can use online surveys, feedback forms sent via email or dedicated feedback sessions to gather insights from participants on their AGM experience. Gather as much feedback as possible to help you improve your hybrid or virtual AGMs.