Should live voting at virtual meetings be made compulsory?

29/09/2021

Should live voting at virtual AGMs & EGMs be made compulsory?

The study on “The Singapore Report on Shareholder Meetings: The Rise of Virtual Meetings” by NUS Business School professor of accounting Mark Yuen Teen found that only one out of 581 issuers which held virtual meetings in 2020 had live Q&A and live voting.

From a governance standpoint, this is not the best as it robs shareholders of their rights, to vote for issues before the companies field their questions. This is especially unacceptable because the technology for secure live voting exists.

Singapore’s regulators should take a serious consideration to mandate the use of live voting at all virtual AGMs (Annual General Meetings) and EGMs (Extraordinary General Meetings) to ensure shareholders’ rights are safeguarded and the spirit behind such meetings is upheld. They may also consider having live question-and-answer (Q&A) sessions on top of live voting.

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