Preparing a Notice of Meeting (NOM) is the first critical step towards a successful AGM. From navigating the complexities of hybrid meetings to managing proxy voting and shareholder engagement, meticulous planning is essential to ensure a smooth process. To help you stay on track, this checklist covers the key considerations for a seamless and compliant shareholder meeting.
Will the meeting be physical, virtual, or hybrid?
Automic’s Virtual Meeting Platform allows shareholders and proxy holders to seamlessly log in, view, vote and ask questions either verbally or in writing, all in an easy-to-use and intuitive online portal.
If physical or hybrid, have you booked in your location?
And have you checked that the AV equipment is appropriate? For example, you need to ensure the meeting room is webinar compatible and that audio and cameras are of a high quality. We recommend engaging with an AV specialist for the best results (referrals can be provided). We also strongly recommend having a demo or dress rehearsal if utilising virtual services, even if you’ve run online meetings before, as situations often change (e.g., different laptop settings, new board members, or a new auditor).
Are there going to be any contentious resolutions put forward?
Automic offers services such as Proxy Voting Analysis and Shareholder Call Campaigns which can help you engage with both retail and institutional shareholders. The key with these options is to engage early so you can obtain results as soon as possible, rather than waiting for proxy close to see how your larger shareholders vote.
Are there any applicable voting exclusion statements to include in your NOM? And if so, who needs to be excluded?
Which KMP or remuneration related resolutions need to include a proxy holder prohibition statement as well as a voting exclusion statement? It’s also best practice to submit your voting exclusions to your Customer Success Manager as soon as possible, so that you have an accurate picture of the proxy voting. For example, the proxy voting may look positive initially. However, once voting exclusions are applied and directors or large shareholders are removed, the outcome can change dramatically, leaving you to scramble for more votes. This is especially critical if you are handling multiple AGMs yourself. This could also be a good opportunity to reflect and see if you would like to engage Automic for any Proxy Voting Analysis.
Time required for print and mailing of hard copy documents, including the annual report, access letter, NOM and proxy form.
Hard copy documents take time to be printed, stapled or bound together, inserted into envelopes and then posted with Australia Post. The general minimum timeframe for this process is around 5 business days, so this is something to always keep in mind whenever you are going to be having a shareholder meeting, and if this fits within your required notice period defined in your company’s constitution. If you think you may run out of time it may be best to push back a meeting by a few days to ensure enough preparation time, where possible. It’s also really important to review the printer proofs when your Customer Success Manager sends them to you, as this is the last chance to make sure the meeting details and all resolutions are correct before being printed and posted out.