COVID-19 and Rulings on Virtual-Only Shareholder Meetings

Changing the Digital Landscape for Boards of Directors and their Shareholders

As concerns about the coronavirus spread globally so has legislation to help the world adapt to the COVID-19 pandemic. In the United States, 30 of the 50 states currently allow for virtual-only meetings and the SEC has continued to promote shareholder engagement, including virtual annual meetings. In Canada, there was a recent ruling by the British Columbia Supreme Court and recent legislation enacted in Ontario, which show that virtual-only shareholder meetings are changing the digital landscape for boards of directors and their shareholders.

These legislation changes have led Global Governance Advisors (“GGA”) to announce the 2020 launch of their board and stakeholder management software, emPower.

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emPower is a platform designed to maximize workplace productivity and allow board of directors, senior management and stakeholders to continue to work uninterrupted from any work environment. emPower can be leveraged if you are a board administrator, corporate secretary or other governance or investor relations professional without the tools in place to effectively communicate with your stakeholders, electronically distribute your annual proxy, proxy vote, or hold a virtual shareholder meeting.

“Perhaps, the most powerful feature of emPower is the ability to hold virtual-only meetings. Considering the COVID-19 pandemic and the new legislation which provides more flexibility to run virtual-only shareholder meetings in North America, emPower is the single most effective and cost-efficient application to leverage for your AGM and virtual shareholder meetings. emPower represents a tipping point in the affairs of boards of directors and communication with key stakeholders,” said Luis Navas, Senior Partner and Co-Founder of Global Governance Advisors.

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The Power of emPower

The emPower platform is the first workplace productivity solution designed for boards of directors, executives, and stakeholders. The platform incorporates three platforms.

emPowerIR® is a dynamic stakeholder communications engine that allows you to organize and keep track of contact information for all your current stakeholders as well as prospective stakeholders and industry contacts. The board can livestream their AGM, send eCampaigns to target groups of constituents and send customized messages that relate to important issues facing the organization. The board of directors can control a flow of information to ‘educate’ any stakeholders.

emPowerBoards® includes: a secure repository for documents, timed agenda, hand raising queue, voting, eSignatures, motions, messaging, annotation, prepopulated Board Assessments and D&O Questionnaire, director attendance and compensation, and live video conferencing that can record board meetings and provide automated meeting minutes.

emPowerHCM® is a peer compensation and performance data analytics repository and payout reporting engine that enables your organization to create and administer balanced scorecards and positively align organizational pay with performance.

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