The views expressed in this article are those of its author and not necessarily those of ShareSoc.
I have been a shareholder of DotDigital for 8 years now and I was appalled by the manner in which the virtual AGM that I have just attended was conducted.
Shareholders were advised that in person attendance would not be possible, so a virtual AGM would be provided via the Investor-Meet-Company (IMC) platform. I duly completed the necessary formalities and looked forward to asking my questions of the directors and hearing their responses. I was therefore appalled and annoyed by what ensued.
There was no facility to ask questions. The AGM simply comprised the chair reading each resolution and saying that “there were no questions or comments” and reading the proxy votes received. It is hardly surprising that there were no questions or comments, when there was no facility in the meeting to ask them!
The RNS of 10th December did indicate that shareholders could email questions in advance – but gave no indication that it would not be possible to ask them in the meeting. Allowing email questions only defeats the interactive nature of a proper, well conducted AGM. The IMC platform has the capability for attendees to submit questions, so why on earth was this not enabled?
This is a classic example of how NOT to run a virtual AGM and I question its compliance with FRC guidance.
Mark Bentley, Director, ShareSoc