Are you ready for the 2023 AGM season?


As 2022 has drawn to a close, plans for this year’s round of annual general meetings (AGMs) are already underway. With pandemic restrictions an ever-fading memory, will companies embrace the familiarity of in-person AGMs, or will the versatility of virtual general meetings (VGMs) prevail? Our experts weigh in on the trends and developments that will shape the coming AGM season.

In 2022, about half of the AGMs Euronext Securities Copenhagen facilitated for its clients were either completely virtual or hybrid meetings. According to Marianne Benedict, Head of Issuer Services at Euronext Securities Copenhagen, format decisions for the upcoming AGM season are most likely to be driven by business needs and culture, rather than the pandemic-related concerns that have influenced the previous three years’ AGM seasons. “Some of our clients have strong traditions connected with their AGMs, and they clearly prefer physical meetings,” Marianne explains. “Then we have the other end of the spectrum, where companies have invested heavily in a virtual solution, even creating in-house broadcast studios, and for them VGMs are clearly the way forward.”

Legislative changes make voting by proxy easier

One legislative development that will impact 2023 general meetings is the bill for changes to the Danish Companies Act, passed by the Danish Parliament in May 2022. The bill makes it easier for foreign investors to cast votes at AGMs for Danish companies. Investors can now nominate a representative to exercise their shareholder rights simply by providing explicit authorisation and instruction, rather than having to present a power of attorney. Flemming Merring, Senior Product Manager at Euronext Securities Copenhagen, explains how this change might impact VGMs. “Until now more than one third of the pre-cast votes have been rejected due to lack of a power of attorney. The change has eliminated that issue and in almost all general meetings, we expect a significant increase in the participating capital and votes.”

Dedicated contact person ensures a smooth GM process

Whether companies elect a virtual, physical or hybrid solution, Marianne Benedict, Head of Issuer Services, says Euronext Securities Copenhagen is well-positioned to help them with every step of the process. “We offer a one-stop-shop solution with a single point of contact throughout the entire AGM or VGM process, from planning to execution.”

This hands-on approach is particularly useful for hybrid and virtual meetings. “With virtual and hybrid formats, having the right technology and support in place are critical success factors,” Marianne Benedict, Head of Issuer Services says. “Our VGM system is developed here in Denmark and supports secure shareholder attendance and access. Attendees can exercise shareholder rights to participate, interact and vote in both hybrid and fully virtual meeting formats.” Over the past two years, Euronext Securities Copenhagen has facilitated more than 100 VGMs each year using this system.

Proven technology creates a virtual experience clients can trust

The combination of a fully tried and tested system together with a dedicated support person helps give companies peace of mind. “Our clients often comment about the concerns they had going into hosting a VGM – particularly around technical issues and possible transmission delays – and how these concerns proved to be unfounded. We’re with them every step of the way, and the technology we use is stable and reliable. So, whether they choose to go virtual, stay physical or take a hybrid approach, we can help them host a successful event for their shareholders,” Marianne concludes.

To get started on planning your 2023 AGM, contact us at: