As represented in Figure 5-1, the number of AGMs with an in-person component (i.e., both in-person meetings and hybrid-virtual meetings) decreased significantly owing to the impracticability of large gatherings, particularly between March and July 2020. With respect to issuers listed on the TSX Composite and SmallCap indices, the number of in-person meetings plummeted from 268 (72.04%) in the 2019 proxy season to just 94 (27.89%) in the 2020 proxy season. And the number of hybrid-virtual meetings hosted by those issuers decreased from 103 (27.69%) in the 2019 proxy season to 62 (18.40%) in the 2020 proxy season. Those decreases were offset by a spike in virtual- only AGMs, which increased from one (0.27%) to a whopping 180 (53.71%) for the corresponding periods.
The number of AGMs with an in-person component (i.e., both in-person meetings and hybrid-virtual meetings) decreased significantly owing to the impracticability of large gatherings, particularly between March and July 2020.
FIGURE 5-1: N umber and Type of Issuers’ AGMs on the TSX Composite and SmallCap Indices (2019–2020)
2019 Proxy Season
2020 Proxy Season
0.27 %
Hybrid-Virtual In-Person Virtual-Only
27.69 %
4 %
27.89 %
53.71 %
72.04 %
18.40 %
Note: The data presented in the figure “2019 Proxy Season” include AGMs for which a management information circular was filed on SEDAR between August 1, 2018 and July 31, 2019; the data presented in the figure “2020 Proxy Season” include AGMs for which a management information circular was filed on SEDAR between August 1, 2019 and July 31, 2020.
72
Governance Insights 2020
Powered by FlippingBook