The Canadian Press – The pandemic’s eruption at the start of AGM season this year forced many companies to cancel their in-person events and figure out how to use technology for a virus-free meeting. The online migration was a scramble for most, as Canadian organizations have been much slower to adopt virtual meetings than their counterparts in the United States. Before this year, only a handful of Canadian companies had done so.
Nonetheless, most of the response to the virtual meetings has been positive, in part because shareholders recognize the unusual circumstances, said Kevin Thomas, CEO of the Shareholder Association for Research and Education (SHARE), a Canadian not-for-profit advisory firm that often helps sponsor minority shareholder proposals to be voted on at AGMs.
“The challenge is that participation at some of these (virtual) meetings has been limited — the ability to ask questions has been limited by the company to either written questions in advance or sometimes no questions,” he said. “In some cases, the ability to log in has been quite complicated.”