Letter to Shareholders explaining Hybrid General Meetings

IN LIGHT OF THE ECONOMIC CRIME & CORPORATE TRANSPARENCY ACT 2023, THIS TEMPLATE IS CURRENTLY UNDER REVIEW. 

This template letter to shareholders explains a company’s decision to hold general meetings as hybrid meetings, i.e., a meeting that can be held both at a physical location and electronically. Notwithstanding the end of the COVID-19 pandemic, many companies will wish to maintain this flexibility and hold shareholder meetings in person and virtually.

There remains some legal uncertainty over the holding of purely virtual general meetings and therefore the most practical way for a company to proceed is to hold a hybrid meeting. Section 311 of the Companies Act 2006 requires the notice of a general meeting to state the time, date and place of the meeting. The legal uncertainty concerns whether a meeting held purely on an electronic or virtual platform, meets the “place” requirement. Unless a company’s articles specifically prohibit virtual attendance at meetings or require shareholders to be physically present to count as attending, it is generally considered that a company can host a hybrid meeting.

This letter explains to shareholders that they will still be able to participate on an equal basis and all instructions as to virtual attendance and electronic platforms will be sent to them in advance of the meetings.

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