A virtual AGM (annual general meeting) is an AGM held entirely online. Shareholders or members join through a secure web platform or mobile app instead of attending in person. They watch the meeting live, ask the board questions and vote on resolutions in real time, from wherever they are.
You'll also see virtual AGMs called online AGMs, virtual shareholder meetings or digital AGMs. They all describe the same thing: a live annual meeting where participation happens online.
How does a virtual AGM work?
On the day, each participant receives a link to a secure meeting platform and verifies their identity to log in. From there, the meeting runs much like a traditional AGM:
- The board presents the annual report, financial statements and plans for the year ahead through a live broadcast.
- Shareholders submit questions in writing, or by audio or video where the platform supports it. A moderator manages the queue so the chair can respond in order.
- Voting opens on each resolution, and results are counted in real time.
A virtual AGM is not a Zoom-style call where everyone can be seen and heard at once. It is a controlled meeting with authenticated registration, moderated Q&A and secure voting, which are the same elements that make up a physical AGM.
Virtual vs hybrid vs in-room AGMs
- In-room: everyone attends in person at a venue.
- Virtual: everyone, including shareholders, participates online.
- Hybrid: a physical meeting is held, and shareholders can also attend, ask questions and vote online.
Many organizations now choose hybrid as a middle ground. Read more about the benefits of a hybrid AGM.
What are the benefits of a virtual AGM?
1. Higher attendance. Shareholders can take part from anywhere with an internet connection, including those who couldn't travel to a venue. A larger, more geographically diverse group of shareholders can hold the board to account.
2. Lower cost and a smaller carbon footprint. No venue hire, catering, travel or printed materials such as badges and booklets. That saves budget and supports ESG commitments, which matter more and more to shareholders. See how much a hybrid or virtual AGM costs.
3. Tighter security. Every attendee is authenticated, and every vote is recorded and auditable. Lumi Global's platform is regularly penetration tested by independent third parties. Learn more about Lumi Platform security.
4. Better accessibility. A well-designed platform is intuitive for shareholders whatever their digital literacy. Technical support on the day means participants don't get left behind.
Who has held a virtual AGM?
Lumi Global facilitated the UK's first electronic AGM for Jimmy Choo in 2016. Virtual meetings then accelerated sharply from 2020.
Marks & Spencer held its first fully virtual AGM with Lumi Global in 2020. More than 1,500 people attended to vote, submit questions or watch the broadcast, compared with 561 the year before. Shareholder questions to the board rose from 58 to 86. M&S has held digital AGMs ever since. Chairman Archie Norman said its fourth digital AGM "continued to attract three times as many shareholders as our last physical meeting."
Haleon chose a virtual format for its 2024 AGM, broadcast from its London office. Shareholders registered and submitted proxies in advance, sent questions ahead of time and asked questions live on the day. A Lumi Global moderator managed questions in real time, and shareholders took part from the UK, Hong Kong, Australia and the USA.
Common misconceptions about virtual AGMs
"The technology is too complicated." The technology is complex, but you don't have to run it. A dedicated Lumi Global operator manages the platform during the meeting, so going virtual is no more complicated for organizers than an in-room meeting.
"Shareholders will find it too hard to join." Joining is as simple as opening a web page or an app on a mobile device. Clear instructions in the Notice of Meeting and support on the day cover the rest.
"A virtual meeting isn't secure." Virtual AGMs run on secure, cloud-based infrastructure with authenticated access and independently penetration-tested systems.
Is a virtual AGM legal?
It depends on your jurisdiction and your organization's governing documents. Some countries and company constitutions explicitly allow fully virtual meetings. Others only allow hybrid, or need the articles amended first. Always check your articles of association and local company law before you commit to a format. Our guide to the legal requirements for holding an AGM covers the essentials.
How to run a successful virtual AGM
- Choose a proven platform. Use one built for AGMs, with authenticated registration, moderated Q&A and real-time voting, rather than a general video-conferencing tool.
- Make materials available early. Publish the annual report and meeting documents well in advance.
- Give clear joining instructions. Include login steps in the Notice of Meeting.
- Open pre-meeting questions and proxy voting. This lets shareholders engage before the day.
- Have technical support and question moderation in place. That way the chair can focus on the meeting.
Frequently asked questions
Is a virtual AGM the same as an online AGM?
Yes. Virtual AGM, online AGM and virtual shareholder meeting are used interchangeably for an annual meeting held live online.
Can shareholders vote at a virtual AGM?
Yes. Shareholders vote on each resolution through the platform during the live meeting, and results are counted in real time.
Can shareholders ask questions at a virtual AGM?
Yes. Questions can be submitted before the meeting and live on the day, and a moderator manages them for the chair.
What's the difference between a virtual and a hybrid AGM?
A virtual AGM is held entirely online. A hybrid AGM has a physical meeting with online participation running alongside it.
Ready to hold a virtual AGM?
Lumi Global has delivered thousands of in-room, hybrid and virtual meetings for listed companies and membership organizations worldwide. Talk to our team about your next AGM.
