THE AGM SEASON REVIEW         2012Steve Banfield and Colin ClarkClient Relationship DirectorsComputershare Investor Servic...
OVERVIEWProxy Trends    › Electronic proxy appointments    › Electronic vs. paper voting    › Shareholder oppositionThe ‘S...
PROXY TRENDSPercentage of issued share capital lodged as proxies3
ELECTRONIC PROXY APPOINTMENTSPercentage of clients offering electronic proxy facility4
ELECTRONIC VS. PAPER VOTINGPercentage of shares voted paper vs. electronic5
REMUNERATIONOpposition to remuneration resolutions across the FTSE100Almost 5% rise inhigh levels ofoppositionOver 6% rise...
SOCIAL MEDIA AND SHAREHOLDER ACTIVISM:BE PREPAREDExamples of tweets sent by @FairPensions this season:7
WHICH SHAREHOLDERS VOTED?8
HOW DID THE PROXY ADVISORS RECOMMEND?9
TECHNOLOGY DEVELOPMENTS     Virtual Meetings      › Allowed under UK company law and technology available      › Virtual a...
MOBILE VOTING AND QUICK RESPONSE CODES› Smart phones increasingly used for accessing the internet› eProxy votes received f...
UK LEGISLATIONProposed package of reforms designed to “strengthen the hand ofshareholders to challenge excessive pay.”In s...
GLOBAL REVIEWProxy and meeting trends› Attendance figures vary significantly - impacted by local change› Increase in lodge...
SUMMARY› Activism is on the increase› Voting levels are increasing, but still room to make more use of  electronic channel...
Questions?
THE AGM SEASON REVIEW         2012
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2012 AGM Season Review

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Overview of the 2012 AGM Season

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2012 AGM Season Review

  1. 1. THE AGM SEASON REVIEW 2012Steve Banfield and Colin ClarkClient Relationship DirectorsComputershare Investor Services PLC 27th September 2012
  2. 2. OVERVIEWProxy Trends › Electronic proxy appointments › Electronic vs. paper voting › Shareholder oppositionThe ‘Shareholder Spring’ › Social media and shareholder activism › The rise and rise of proxy advisorsLatest UK Developments › Technology and legislationThe Global View2
  3. 3. PROXY TRENDSPercentage of issued share capital lodged as proxies3
  4. 4. ELECTRONIC PROXY APPOINTMENTSPercentage of clients offering electronic proxy facility4
  5. 5. ELECTRONIC VS. PAPER VOTINGPercentage of shares voted paper vs. electronic5
  6. 6. REMUNERATIONOpposition to remuneration resolutions across the FTSE100Almost 5% rise inhigh levels ofoppositionOver 6% rise inmoderate levels ofoppositionOver 11% reductionin low levels ofopposition6
  7. 7. SOCIAL MEDIA AND SHAREHOLDER ACTIVISM:BE PREPAREDExamples of tweets sent by @FairPensions this season:7
  8. 8. WHICH SHAREHOLDERS VOTED?8
  9. 9. HOW DID THE PROXY ADVISORS RECOMMEND?9
  10. 10. TECHNOLOGY DEVELOPMENTS Virtual Meetings › Allowed under UK company law and technology available › Virtual attendees retain same rights as if they were present › Current lack of demand in the UK › Adoption of virtual meetings in Europe (Denmark) and the US › First entirely virtual meeting in the UK in 2013? Handset voting › Trends for voting differently on resolutions › AGM votes should be fast, accurate and transparent › 34 of the UK’s FTSE 100 use handset voting technology at their AGMs10
  11. 11. MOBILE VOTING AND QUICK RESPONSE CODES› Smart phones increasingly used for accessing the internet› eProxy votes received from mobile devices.› Quick Response (QR) code added to AGM material› Automatic connection to online proxy appointment system.› QR codes already in use in Australia› Due for launch across US and Europe for 201311
  12. 12. UK LEGISLATIONProposed package of reforms designed to “strengthen the hand ofshareholders to challenge excessive pay.”In summary, the proposals will mean:› Shareholders given binding vote on executive pay policy› Shareholders given advisory vote on application of pay policy in the previous year› Companies required to report on how they have implemented their pay policyNew rules apply to companies with year ends starting after October201312
  13. 13. GLOBAL REVIEWProxy and meeting trends› Attendance figures vary significantly - impacted by local change› Increase in lodged proxy votes seen across the globe› Electronic voting has increased vs. paper - exceptions due to local legislationEmerging trends› Virtual meetings - many countries adopted or adopting similar legislation to the UK› Executive remuneration - sentiment echoed across the globe› Australia ‘Two Strikes’ and US ‘Say on Pay’13
  14. 14. SUMMARY› Activism is on the increase› Voting levels are increasing, but still room to make more use of electronic channels› UK not out of line with global trends› Be mindful of the impact of Social Media and new technologies› Understand the make up of your Register, the Voting Chain and the influence of Proxy Advisors› Legislation is changing, so building trust between Issuers and Investors will be crucial to ensure Resolutions are passed
  15. 15. Questions?
  16. 16. THE AGM SEASON REVIEW 2012

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