New Law on Public Limited Companies 2023: Virtual options
Since January 1, 2023, it has been possible for corporations to hold general meetings virtually.
Advantages for shareholders
Holding the Annual General Meeting virtually offers many advantages. For example, the participating shareholders no longer have to travel to a meeting location and shareholders who would otherwise have had to be represented may be able to attend.
It is important that the articles of association must provide for the possibility of such a virtual general meeting. Otherwise, no use can be made of the possibility.
Preparation and execution
Before holding the general meeting, the board of directors must ensure that technical access is available to all shareholders and is not unnecessarily impeded. Otherwise, the shareholders’ right to participate will be violated. It must also be possible to check whether all those present are authorized to participate. This can be checked, for example, by sending encrypted e-mails to registered shareholders, or qualified electronic signatures can be checked.
During the meeting, it is important and necessary that every shareholder can actively participate. This means that fluent interaction must be possible. This can be ensured, for example, by chat functions.
The Board of Directors is also responsible for ensuring that the security of the meeting is guaranteed and that no unauthorized intrusion by third parties influences the votes.
If technical problems occur during the general meeting that make it impossible to conduct the meeting properly, the meeting must be repeated.
Conclusion
Holding a virtual general meeting is a good way to facilitate shareholder participation.
However, good and precise preparation is necessary to meet the technical requirements of the meeting. Technical errors may lead to contestability of the results or the meeting may have to be repeated.
Get started as Mompreneur: www.mom-preneur.ch/en/home
Get started as Dadpreneur: www.dad-preneur.ch/en/home
Get started as Seniorpreneur: www.senior-preneur.ch/en/home
Get started as Youngpreneur: www.young-preneur.ch/en/home
