Meaningful participation is the new legitimacy

AGM events that can be seen, measured and trusted

Sian Roberts, executive director – democracy, Civica

As we enter another Annual General Meeting (AGM) season, conversations will no doubt continue the debate around virtual versus in-person events.

Where many shareholders relish the opportunity to convene in a hotel ballroom to participate in decision making, soak up the atmosphere, network and perhaps witness firsthand their board directors sweating the difficult questions, advancements in meeting technology have also brought unprecedented improvements for accessibility, cost savings and, when delivered correctly, key data capture.

This year, however, more than most, we are at an interesting point in time for this debate.

A digital pivot for AGMs

While the digital pivot that was accelerated by the pandemic has largely continued for AGMs in places like North America and Australia – where virtual or hybrid events are becoming the new norm – Slaughter and May’s AGM Trends Report 2025 found that 72% of the FTSE 350 still favoured physical-only events in the UK last year. That’s a significant difference, but there has also been a critical blocker standing in the way.

The meaning of a “place of meeting” found in the Companies Act, last updated in 2006, has left ‘virtual places’ in something of a legal grey area. Many organisations have been reluctant to risk compromising the validity of the critical decisions being made during their AGM while they don’t have confidence in the legal framework.

However, with clarification expected via an amendment to this Act later in the year, that is all set to change. Instead of a debate on how shareholders choose to attend an AGM, it’s now time to shift the focus away from formats and towards how best to achieve meaningful participation. And can this be done by leveraging the best of both digital and physical worlds?

Why meaningful participation matters more than meeting format

While the updated Companies Act is expected to remove any ambiguity around whether virtual AGMs are permitted, there’s no denying that shareholders will still expect more than just technical compliance. An AGM can meet every legal threshold and still fail the legitimacy test if most shareholders feel absent from the decision-making process.

So, whether it’s digital or in-person, everything must support genuine attendee engagement and board accountability. This calls for a rethink on how engagement is designed, delivered and evidenced.

The hybrid solution is a useful halfway house where traditional models can combine with more modern thinking. In fact, it is already very common in other membership organisations such as charities, co-operatives and trade associations where rules allow. So, what measures are needed to ensure that hybrid AGMs ensure meaningful participation?

How technology can raise the bar for AGM engagement

To move forward, virtual attendance must be treated equally with physical presence. Members joining remotely should have the same rights to speak, ask questions and vote as those sitting in the room.

Create structured opportunities for live Q&A. This doesn’t mean pre-submitted questions filtered behind the scenes, but real time engagement where attendees can see that their questions are received and addressed. Technology should facilitate orderly discussion, queue management and transparency, not restrict it.

Next, think beyond the venue. Use mobile platforms and secure apps so that people in the room, as well as in any room around the world, can participate through the same, integrated system. This reduces the risk of two classes of attendee emerging, those physically present and those dialling in.

When voting opens via these platforms, the experience should be intuitive and inclusive. Clear prompts, accessible design and immediate confirmation of submission build confidence. Inclusive voting design should increase turnout and strengthen the credibility of outcomes. If more attendees find it easy to engage, then more will do so.

Behind the scenes, the process must remain fully compliant. Identity verification, secure vote capture and robust data protection are not optional extras. They are foundational. Yet when designed well, they operate seamlessly in the background, supporting participation rather than obstructing it.

In hybrid and virtual formats, legitimacy is no longer demonstrated solely by a show of hands. It is demonstrated by a visible, measurable level of engagement across every channel, which these digital ideas are all designed to deliver on.

Unlocking new benefits through technology

Digital platforms are not simply a substitute for the physical meeting. They unlock capabilities that traditional formats can struggle to match.

For example, digital participation reduces barriers for those who face travel, cost or health constraints. This is particularly relevant for international institutional investors and retail holders with geographical impediments.

Providing captions, screen reader compatibility, adjustable text and translation tools is far easier in digital formats too. These features are not cosmetic. They enable equal treatment of attendees and demonstrate that inclusion is taken seriously.

Participation metrics from digital systems become a governance KPI rather than a footnote. Attendance counts are only the beginning. Boards can analyse how many shareholders logged in, how long they stayed, how many voted, how many asked questions and which resolutions attracted the most engagement. These insights can inform future communication strategies and demonstrate commitment to transparency.

This all leaves a clear audit trail where every vote can be time stamped. In an era of heightened scrutiny, being able to evidence the integrity of the process is invaluable. Processes can be open to scrutiny in ways that paper-based or purely physical systems cannot easily achieve. Independent scrutineers, regulators and shareholders themselves can have greater confidence in the robustness of the outcome.

Accountability, transparency and connection

AGMs have historically been about accountability, transparency and connection. Digital solutions – when thoughtfully implemented – should only serve to enhance all three.

Ask whether your AGM elections are designed merely to pass resolutions, or to demonstrate genuine engagement? Can you evidence participation in a way that builds confidence with investors, regulators and the wider market?

The organisations that answer yes will be those that treat participation as something to be seen, measured and trusted.

If you would like to explore how digital solutions can help you deliver compliant, inclusive and high confidence AGM events, we would welcome a conversation.

About Civica Election Services (CES)

Through our electoral experts, we lead best practice in election, ballot and consultative process administration. Online nomination and voting services, ballot design, secure printing and mailing, scanning and counting are all conducted and project-managed on our premises, with all digital products designed, built, owned and managed by CES.