LexisNexis Market Tracker Trend Report: AGM Update 2022/2023

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Di Yu and Lachlan Low from our Corporate M&A team were delighted to contribute to the latest LexisNexis Market Tracker Trend Report on AGMs. The report reviews investor voting in 2022 and looks forward to the hot topics and emerging trends for the 2023 AGM season.

The report has conducted a detailed review of AGM voting and formats throughout the 2022 season. Drawing on the information contained in the Market Tracker database, this report provides analysis of last year's shareholder voting patterns, including trends within failed resolutions, significant no votes, and shareholder dissent. The report also reviews the impact of the COVID-19 pandemic on AGM format and reflects on the continuity of these changes. It concludes with some final thoughts on trending issues for practitioners to watch out for during the 2023 season.

Topics covered include:

  • Resolutions that were most likely to fail or attract shareholder dissent
  • Shareholder voting patterns during the 2022 AGM season
  • FTSE 350 dissenting votes by industry sector
  • Analysis of preferred AGM format in 2022
  • Hot topics for the 2023 AGM season

Key findings:

  • 4.3% of FTSE 350 companies received at least one failed resolution, declining from 6.1% in 2021
  • 23.2% of FTSE 350 companies received significant votes against at least one resolution, declining from 28.9% in 2021
  • 1.8% of FTSE 350 companies withdrew at least one resolution
  • 117 of 276 FTSE 350 companies adopted a hybrid AGM format
  • New share issues, executive remuneration, climate change, diversity, and cyber risk expected to be hot topics in the 2023 AGM season

This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.