Trend observations from 120 general meetings
Around 120 general meetings have now been held via Konsento, and around a third of them have passed resolutions that have been remotely notarized online by a notary. Based on these experiences, we have compiled observations, which we present in a three-part blog series. In doing so, we shed light on trends that influence the success of the public limited company in some cases beyond the general meeting. Each blog is dedicated to a specific topic group and offers valuable insights and tips for planning and holding general meetings.
In this blog, we highlight that data hunger and data analysis do not stop at general meetings and how electronic means support this trend.
Growing interest in data analysis
The objection is obvious that software solutions are not necessary for a face-to-face general meeting, especially if they have already been carried out without technical means in the past. Especially when it comes to small and medium-sized joint stock companies.
At the same time, we observe that data analysis and processing do not stop even before general meetings: For example, the Board of Directors wants to know before the Annual General Meeting how many shareholders or the votes they represent have registered or instructed the voting rights representative; the independent voting representative wants to check whether the instructions have been entered correctly by means of random samples against a database export; the notary not only wants the decisions and Election results with exact voting ratios are displayed, but rather plausibilize the composition based on the voting behavior of the individual shareholders per agenda item; the board of directors of the listed company would like to submit the resolutions with the exact voting ratios to the stock exchange immediately after the AGM is closed; and, of course, all information relevant to the minutes should be taken from the database and inserted into a draft minutes. All of this can of course also be done manually, but electronic systems can be used faster, more comprehensively and more precisely.
Efficiency through electronic systems
Of course, these information needs already existed in the past and, of course, they can also be met with analogous means and methods. However, if general meetings are organized electronically and are held with the involvement of all participants, such as the board of directors, shareholders, proxy representatives and notaries, the resulting data can satisfy the information requirements faster, more comprehensively and more precisely. In addition, minutes, voting results, certificates and commercial register applications can be prepared faster and more efficiently. Technical means therefore make the entire process of the General Assembly more efficient and transparent.
Review and outlook
The first blog in this series covered the General Assembly as a marketing platform, while the present one highlighted the growing need for data analysis. In the next blog, the balance between autonomy claims and the need for support from the Board of Directors will be examined in more detail.
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