Covid – 2019 paralyzed the way of life and how companies conducted their business operations including running Annual general meetings for shareholders. Most companies started leveraging digital marketing tools to reach prospects.
Measures put in place during the pandemic include restrictions on movements, public gatherings and meetings, social distancing, and protective wear. These measures affected the way companies held AGMs, hence shifts from physical to remote AGMs.
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What is an AGM?
AGM (Annual General Meeting) is a key medium utilized by companies to allow stakeholders and the management to discuss important information on performance, voting, and questioning the board on other factors affecting the company.
What are the Company Acts on holding an AGM?
According to the Company Act 2015 Section 275A, all companies in Kenya are required to hold Annual General Meeting (AGM) except single-member companies. But the onset of the pandemic forced organizations to find alternatives or delay their AGMs. These made virtual and hybrid AGM services in Kenya a trend.
Moving physical AGMs to the virtual environment
As a remedy, virtual and hybrid AGM services in Kenya became a new norm that companies should utilize to “Render to Caesar what is Caesar’s”. These end-to-end AGM solutions enhanced the convenience and simplification of the physical AGM process which was costly and hassle.
