FRC Publishes AGM Guidance to Boost Shareholder Engagement

The UK’s Financial Reporting Council (FRC) has released specific guidance for listed companies to improve shareholder participation in the planning and conducting of annual general meetings (AGMs). The FRC used feedback from a “wide range of stakeholders” to create the guidance, which covers areas such as board engagement with shareholders, voting processes, use of proxies, and communication of meeting arrangements. The FRC noted the guidance has been published to help ensure corporate AGMs are “well-run constructive forums for effective engagement”. The guidance also sets out actions to assist companies in making the most of new technologies to boost shareholder engagement, with hybrid AGMs likely to become increasingly important in the future. Sir Jon Thompson, FRC CEO, said: “With this new guidance, we want to encourage companies to seize the opportunity to maximise shareholder engagement by embracing new technologies. We also recognise that there are many benefits of physical meetings so companies should think carefully about which approach is right for them and their shareholders.” 

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