Statistics show that 510 TWSE/TPEx-listed and local emerging stock companies held their Annual General Meetings (AGM) last week (June 13 to 17), marking it the week with the largest number of AGMs in 2022. Among the five days, June 17 is the most popular one and was chosen by 154 companies. Many large financial holding companies also picked this auspicious day to run their meetings. It is worth mentioning that 20 companies organized hybrid shareholder meetings last week. Among them, 11 companies scheduled their meetings on June 17, logging a new single-day high.

The 11 companies which convened their hybrid shareholder meetings on June 17 are Fubon Financial Holdings, Cathay Financial Holdings, First Financial Holding, E.SUN Financial Holding Company, Taiwan Cooperative Financial Holding Company, Chang Hwa Bank, Shanghai Commercial Savings Bank, O-Bank, Mercuries Life Insurance, AUO, and LuxNet Corporation. These issuers in the financial and high-tech industries highly value corporate governance. The number of their shareholders exceeds 3 million people in total. They conducted their AGMs in the hybrid format to provide their shareholders with more options to access and participate in meetings. With thorough preparation, these issuers had arranged staff training, several trial runs, as well as online and on-site rehearsals at the simulation conference rooms provided by the Taiwan Depository Clearing Corporation (TDCC). They spared no effort as they hoped to offer perfect experience of participation for their shareholders.

In addition, Fubon Financial Holdings, Cathay Financial Holdings, AUO, and other companies were having their board of directors elected in the virtual AGMs. Since their e-voting rates have reached a certain point, the results of motions and elections could almost be accurately estimated before meetings. Therefore, they have already had their back covered when using the e-Meeting Platform, and their AGMs ran smoothly. Considering the severe pandemic, the Financial Supervisory Commission (FSC) has been stepping up the efforts to promote e-voting for companies and shareholders. This voting method can facilitate effective participation in AGMs and fulfill shareholder activism while avoiding cluster infections.

TDCC President Han-Chiang Chu stated that 2022 is the official commencement of hybrid shareholder meetings. Under the FSC’s policies, the TDCC established the e-Meeting Platform for issuers, shareholder services agencies, and shareholders to encourage the use of and familiarize themselves with the new format. It is promised that the TDCC will try their best to assist every user. The TDCC will also build on the insights from this year’s official launch to improve the system and optimize functionalities for better shareholder services in the years to come.