The King V Report on Corporate Governance is now in force for financial years beginning on or after 1 January 2026, replacing the King IV Report on Corporate Governance. It marks a clear evolution in South Africa’s governance landscape.

While King V applies broadly to board leadership, ethics, risk and sustainability, AGMs are emerging as a key forum where these strengthened governance expectations are demonstrated in practice.

The 2026 AGM season confirms the shift. AGMs are no longer procedural compliance events. They are structured, outcomes-driven accountability platforms and increasingly digitally enabled governance environments.

AGMs as outcomes-focused governance platforms

King V reinforces the move from narrative governance to measurable outcomes. Boards are now expected to demonstrate how governance practices deliver ethical culture, effective oversight and sustainable value creation.

For AGMs, this changes both substance and format. Shareholders expect clear, evidence-based disclosures, meaningful engagement with directors and transparent voting processes. Shareholders will increasingly expect clear, evidence-based disclosures, meaningful engagement with directors, and transparent voting processes. Governance reporting must withstand live scrutiny.

Delivering this level of accountability requires more than careful preparation. It demands structured facilitation of shareholder participation, whether in person, virtual or hybrid, supported by systems capable of real-time interaction and reliable vote execution.

The disclosure framework and increased transparency

A cornerstone of King V is its formal Disclosure Framework, which standardizes reporting against governance principles and requires clear justification of deviations and confirmation of outcomes achieved.

At AGMs, these disclosures become live accountability tools. Presentations must align precisely with published reports, and shareholder questions must be addressed transparently and consistently.

As governance disclosures become more structured and comparable, the integrity of the AGM process itself becomes more important. The credibility of what is reported is closely linked to how effectively shareholder participation and voting are managed.

Expanded AGM requirements under the Companies Act

Amendments to the Companies Act 71 of 2008, which came into effect in late 2024, continue to shape AGM agendas for public and state-owned companies. The presentation of Social and Ethics Committee reports, Remuneration reports, and related shareholder approvals has expanded both the scope and complexity of meetings.

With more governance matters tabled for consideration, boards must ensure that authentication, vote tabulation and result reporting are accurate, transparent and auditable. Governance credibility now depends not only on what is presented, but also on how decisions are captured and confirmed.

Double materiality and broader shareholder dialogue

King V embeds double materiality, requiring companies to report on financial performance alongside their impact on society, the economy and the environment.

As a result, AGM discussions now extend beyond financial results to include climate governance, social impact, workforce oversight and long-term sustainability risks. These conversations require structured question management and equitable participation, particularly in hybrid and virtual environments.

Technology has become central to inclusive governance. It enables orderly debate, real-time engagement and consistent documentation of shareholder interaction.

Technology and AI oversight

King V also elevates information governance, including oversight of AI systems, cybersecurity and data ethics. Boards must demonstrate that they understand and appropriately manage digital risks.

There is growing alignment between these governance expectations and the way AGMs are conducted. Meetings increasingly rely on secure digital platforms to manage access, voting and engagement. When boards discuss responsible technology oversight, the AGM environment itself should reflect secure, transparent, and well-governed systems.

Governance and AGM readiness go hand in hand

King V reduces the number of principles from 17 to 13, but expectations are more rigorous. Accountability, demonstrable effectiveness and structured disclosure are now central.

In practical terms, successful AGMs in 2026 require alignment between governance substance, shareholder engagement and reliable meeting infrastructure. Preparation must extend beyond drafting resolutions to ensuring that participation, voting and disclosure processes are secure, transparent and defensible.

The AGM is no longer just an annual statutory event. Under King V, it is a live demonstration of governance maturity. Boards that approach AGMs strategically, supported by structured engagement tools and robust digital processes, will be best positioned to build trust in this evolving governance era.

To discuss how your organisation can align AGM delivery with King V expectations, speak to our team about building a secure, transparent and outcomes-focused meeting environment.