FTSE 350: November 2022 Snapshot of Arrangements for AGMs
We continue to track the approach FTSE 350 companies are taking to the holding of their AGMs.
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We continue to track the approach FTSE 350 companies are taking to the holding of their AGMs. We have set out in our snapshot the approach companies have taken on a number of key aspects of their meetings, including where the AGMs are being held, what arrangements are being made for Q&A and the level of shareholder engagement being offered.
- The trend of companies moving back to holding open physical meetings with no electronic participation (125) has strengthened throughout the year.
- Around a quarter of all meetings included in the survey have been held as hybrid meetings (61). This is a statistic which would have been unimaginable pre-Covid and indicates that although more complex to plan and run, companies have generally embraced hybrid meetings.
- Whilst not legally hybrid meetings, companies have continued to offer some form of virtual element at their physical meetings (e.g. live webcast) (39), which shows a general desire to take advantage of technology to engage with shareholders.
- This year there have been a number of environmental and social resolutions proposed at AGMs (14), with almost all those proposed successfully passing. Most of the resolutions proposed were non-binding, advisory in nature and related to the approval of climate strategy, climate action and climate transition plans. There were also specific resolutions for the approval of TCFD disclosures in the annual report.
- The FRC has published its Good Practice Guidance for Company Meetings available here which provides suggestions for good practice that listed companies should consider adopting in order to enhance effective shareholder participation when planning and conducting annual general meetings.
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