The platform needs to support tracking and auditing & evaluating components to satisfy the needs of auditors, scrutinizers, and support the submission to government authorities. Most platforms have front- and back-end tracking elements with a detailed report on all transactions on the system & the network.
Virtual Annual General Meeting can be made into the company-specific Hybrid AGM or eAGM for the investors, stakeholders to showcase their brands at the meeting, and the employees and participants to have a life-like experience
Like every other business, you are most likely required by law to hold an AGM or Annual General Meeting once every year within a few months of the company’s financial year. But during this pandemic, it’s tough to maintain this by psychically, so you need a platform to hold your AGM, and here we are.
“As a reminder, unless it has waived the requirement to hold an AGM, a Guernsey company must hold its first annual general meeting within 18 months of incorporation. After that, it must hold an annual general meeting in every calendar year provided that no more than 15 months shall elapse between each AGM.”- were wrote in lexology.
https://www.lexology.com/library/detail.aspx?g=16834b5e-f67e-4fca-984a-8809bef51b90
Virtual meetings are increasing in universality, and growing numbers of companies are adopting this online method of communicating with their shareholders.
Though Virtual Annual General Meetings are Different from In-Person Meetings, Virtual meetings let shareholders actively participate in annual general meetings, giving them the same set of authorization and transparency as in-person AGMs. The structure of the gocon live AGM, as well as tasks on the agenda, also remains unvarying. Companies should record their virtual annual general meetings as they are legal proceedings and can do all of them with Gocon Live.
“The MCA relaxation comes in the account of the coronavirus pandemic (COVID-19) as many companies requested for leniency on the AGM rules owing to the social distancing norms and the nationwide lockdown which has been extended further by Prime Minister Narendra Modi to May 3, 2020.” – Told ETCFO.com
https://cfo.economictimes.indiatimes.com/news/covid-19-impact-mca-allows-cos-to-hold-agm-by-september-30/75291564
You also got some amenities from Virtual AGM such as,
- Attendance can increase by Virtual AGM.
- Reduced costs (venue, catering, travel, accommodation)
- Less physical accessibility concerns
- More flexibility on when the meeting can be held
- As a result of increased participation – better quality debate; increased accountability and openness
- Ability for shareholders who cannot travel to attend
- Reduced time commitment for directors and staff
- Increased control and management of meeting
- Reduced carbon footprint due to less travel required and less waste created/energy used
- Better visibility of who is attending
- Near-immediate results from votes
- No physical issues caused by unexpected numbers
