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Rumor: HSBC HOLDINGS Considering Switching to Virtual Meetings for Future AGMs to Avoid Interference from Protests
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HSBC HOLDINGS (00005.HK) has discussed moving its annual general meeting (AGM) entirely online after mounting dissatisfaction with interference from climate protesters and the costs associated with in-person gatherings, Financial Times quoted two sources as saying. Shareholder meetings have historically been big events, yet corporations are increasingly looking to downsize the meetings and required questions to be submitted in advance. HSBC HOLDINGS has explored the possibility of asking shareholders to participate in meetings by virtual means entirely as it moves toward a “digital-first” investor gathering, sources added. HSBC HOLDINGS is scheduled to hold its AGM at the Intercontinental London Hotel early next week, supplemented by the Lumi online platform. The move to virtual-only attendance will help the bank cut costs such as leasing out large venues, providing refreshments and hiring security staff, insiders said. It will also limit disruptions from protesters, said another insider. AAStocks Financial News |
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