Online voting at annual shareholder meetings has jumped since the coronavirus outbreak as investors shun large gatherings because of travel restrictions or fear of infection, Swiss tech firm Sherpany said.
The company, which counts Swiss giants Novartis, Nestle and Zurich Insurance among its 300 clients worldwide, provides a secure internet platform which lets shareholders vote on motions until the day before AGMs."We have had a big increase in usage so far, and the AGM season is only just beginning," Sherpany Chief Executive Tobias Haeckermann told Reuters.
Bell Food Group which makes and distributes meat products to supermarkets, has postponed its March 17 AGM, while food and beverage company Orior and Hypothekarbank Lenzburg have delayed their events also due in March. "There is a big question mark about what you do with an AGM if you expect more than 1,000 people to take part," said Haeckermann, referring to the Swiss ban on large gatherings.
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