Annual General Meeting (AGM)
Votes of annual general meeting may be held both at a distance and on the spot. Divers methods of the voting can be used in general meeting but online voting makes it possible to increase the participation and improve eff ectiveness of these elections.
Legal framework for voting in AGM
AGM votes shall be carried out in accordance with the legal provisions applicable to the type of organization concerned (corporates, association, public establishment, other) and in accordance with the specific provisions laid down in the statutes of that organization. The corporate laws that govern the company, along with its memorandum and articles of association, contain the rules governing the AGM.
Frequency of AGM
Assembly votes are usually held at an annual frequency.
Nature of AGM votes
The ballots take the form of votes of resolutions, with two or three choices for each resolution: vote for, vote against, abstain.
In this context, the proper information of the voters on the meaning and content of each proposed resolution must be shared before voting. The number of votes may be proportional. The majority and quorum rules are set either by the legal provisions and by the bylaws or according to the nature of the Assembly.
Organization of a vote in AGM
The bylaws lay down the procedures for the organization of votes. In general, Assembly votes are organized into three phases.
A first phase of preparation that consists of drawing up the list of voters, the list of resolutions and the associated documentation, and preparing the voting material from a distance.
A second phase is devoted to the collection of remote votes or proxy votes, prior to the holding of the Assembly.
A third phase, coinciding with the holding of the Assembly, consists of consolidating any votes cast on the spot and voting at a distance and announcing the results, either at the meeting or at the end of the meeting.
Voting in AGM
The terms of voting are set by the company bylaws. Remote voting can take place via the Internet or by correspondence before the day of the Assembly, or by means of telecommunication on the day of voting. Voting on the spot can be organized by secret ballot in an envelope or electronically.