Tips / Key Take Aways

In terms of the key takeaways for the 2024 AGM season, in an era of governance mastery, companies now have a wonderful opportunity to craft and maintain compelling narratives about their board of directors and their decision-making processes, so they can better align with the interests of both shareholders and stakeholders. This presents companies with a chance to expand their influence and control, ensuring that their stories resonate with a broader audience and demonstrate their commitment to transparency and accountability.

Additional Considerations Before Your AGM

• Is the venue close to public transport?
• If the venue has been renamed or is relatively new, can it be located on Google maps?
• Once at the venue ensure there is adequate signage and that your AGM is visible for all visitors across all entry and exit points
• Ensure access and egress of both the venue and the chosen room is satisfactory for the estimated number of shareholders attending on the day
• Foyers are particularly important at an AGM, especially if a security protocol is required on the day. Ensure it is size appropriate and not shared with too many other events on the day of your meeting
• Have an enquiry desk available for shareholder queries, this will reduce non-AGM specific questions being asked during the formal proceedings
• Ensure you have a team of ushers available to assist shareholders with moving to the meeting room and/or overflow room
• Consider using an autocue for executive presentations, this becomes more important when hosting an online video component, it reduces unwanted noise and lack of interaction between presenter and camera
• Have WiFi available for your investors to utilise on the day

Remember the MUFG Corporate Markets team is here to assist with all of these considerations and will work closely with your team to ensure the success of your meeting.

Understanding Proxy Advisor Influence on Your Shareholder Base

• Proxy Advisor Influence: Australian superannuation funds voted 86.81% in-line with ISS on Remuneration resolutions in 2024 compared to 73.06% in 2023. Similarly, for 2024, super funds voted 88.79% in-line with Ownership Matters on REM compared to 82.11% in 2023. Conversely, vote alignment on REM between Australian super funds and Glass Lewis fell from 80.94% in 2023 to 74.73% in 2024. These trends indicate that while alignment with the specific proxy advisors may change, in aggregate, super funds are still reliant on proxy advisors to provide them the guidance necessary to fulfil their governance and active stewardship obligations.
• Taking this into account, speak to our team about a Corporate Governance Impact Report (CGIR). This report takes your latest beneficial ownership analysis and details which proxy advisor/s your institutional holders subscribe to. The report will also show whether the investment manager or beneficial owner retains the voting rights so you can better focus your time.

Utilising hybrid technology enables greater shareholder participation

• Our technology teams are here to assist you in planning a fully integrated AGM. Whether utilising our telephony platform to enable shareholders to ask verbal questions into the meeting, our Vote+ App or our virtual meeting and webcast platforms; our teams have the technology and expertise to assist you in bringing several components together to run a seamless annual general meeting.