Meeting and Client Relationship Team Update 2024
In 2024, our MUFG Corporate Markets team assisted clients with over 540 meetings across Australia, including 380 Annual General Meetings (AGMs) managed by our Meetings and Client Relationship Team. We also worked on 17 Club Membership Ballots, numerous Member Meetings, Annual Member Meetings (AMM’s), and various other Extraordinary General Meetings, Schemes of Arrangements, and employee meetings.
We collaborated with our clients to facilitate legal mailings and email communications to shareholders providing expertise and guidance in creating proxy forms and important inclusions to the Notice of Meetings, such as virtual meeting information. We also partnered with our clients to ensure diligent planning and preparation for the day of the AGM such as planning for registration and training on our Q&A moderator platforms including facilitating rehearsal sessions.
The topics of discussion among shareholders largely remained the same from the previous year, with climate change remaining a key concern. There was a heightened focus on remuneration, executive pay, and poor company performance. Shareholders became more vocal about voting down director elections and challenging company decisions.
Shareholder activism remained prominent, with shareholders asking numerous questions, especially directed toward larger corporations. This trend underscores the growing awareness and assertiveness of shareholders in holding companies accountable for their actions and performance.
Overall, we noticed positive increases in shareholders electing to receive digital communications, lower volumes of online voting by retail shareholders prior to meetings, greater use of technology among institutional investors through platforms like Proxymity, and small increases in shareholder participation at meetings, particularly due to the accessibility provided by hybrid meeting formats and additional technology.
AGMs have now become a year-round process, involving continuous investor and proxy engagement, governance disclosures, and constant AGM analysis. We support our clients throughout the entire journey, ensuring they are well-prepared and informed at every stage. By participating in the full meeting cycle, we equip our clients with the tools and knowledge they need to conduct successful and impactful Annual General Meetings.
Our Meetings and Client Relationship Teams look forward to supporting our clients in 2025!
