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How Does Hybrid Meeting Model Work?

Updated on May 26, 2024

The traditional format of Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) is evolving. Hybrid AGMs/EGMs offer a modern approach, combining the physical presence of shareholders at a designated venue with the accessibility of online participation through digital platforms. This innovative format empowers shareholders to choose how they want to engage with the company, fostering greater participation and inclusivity.

How Does a Hybrid AGM/EGM Meeting Work?

To ensure the success of hybrid model meetings, the company must adhere to the following guidelines.

Dual Notification: Companies are required to notify the venue address of the AGM/EGM and also notify the weblink for joining the meeting online and e-voting. The Commission and the concerned Stock Exchanges are also informed about the same.

Voting Flexibility: Shareholders can choose an option to vote either electronically in advance, remotely through e-voting, or poll in the meeting location. The e-voting mechanism works similarly to a physical or paper ballot system at the venue, but the other is available on the electronic ballot or online. Pre-registration features are used to enable online attendance, vote casting, and access to meeting logs to be carried out to ensure ease and full participation.

Seamless E-voting: Online voting will commence at least 24 hours but not more than 72 hours before the meeting is to be held, maybe it would end upon the actual closure of the AGM/EGM meeting. This e-voting window is in real-time, so it cannot inconvenience a member, whether within the country or elsewhere.

Stock exchange oversight: To ensure transparency, the stock exchanges appoint at least two senior officials to oversee the entire process of voting. The Stock Exchange shall conduct independent verifications of the entire election process and consolidation of the detailed voting results after the conclusion of the respective meeting. Such verification shall be done by an Independent Scrutinizer appointed by the company. Report based on the above shall be submitted to the Commission within 48 hours of the AGM/EGM's conclusion.

Physical Leadership Presence: The Chairman, Managing Director/CEO, and Company Secretary are all physically present at the venue to ensure a connection to leadership and therefore a sense of authority.

Live or Webcast Accessibility: One-way live streaming or webcasting facilities of the proceedings shall be made available to the shareholders during such a meeting, therefore providing transparency and ensuring that all the shareholders, including those not present physically, are always updated.

Final Remarks

Hybrid AGMs/EGMs represent a significant step forward, promoting greater shareholder engagement flexibly and inclusively. As technology continues to evolve, more progress can be expected in this field to let the voice of shareholders be heard and corporate governance remains as efficient and transparent as ever.


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