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Campaign group urges UK to keep virtual annual meetings temporary – Source Reuters Tech News

LONDON (Reuters) – The use of virtual annual meetings by companies during the coronavirus epidemic must not become the norm once restrictions on people’s movements are lifted, responsible investment campaign group ShareAction said on Thursday.

Such a move could prevent investors from attending and holding companies to account ShareAction said in a letter to the head of Britain’s business ministry seen by Reuters.

“A significant proportion of retail shareholders are older people who tend to be less comfortable with using the kind of technology required to host a digital AGM,” Policy Manager Rachel Haworth said in the letter to Alok Sharma.

“In addition, physical AGMs allow retail shareholders and the board a unique and unscripted opportunity to meet and have conversations in person.”

While some companies had plans in place to allow investors to submit a question electronically, Haworth said this could also be abused.

“If attendees can only submit questions in advance…

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Source Reuters Tech News

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