All steam ahead for digital AGMs

[Re: No teas or coffees for shareholders at M&S AGM as chairman tells them to go digital, July 2]

The in-person vs virtual debate at M&S’ AGM has dominated headlines this week. However, a crucial aspect is being overlooked: for the first time ever, nominee shareholders could attend the AGM, meaning those who bought their shares through an online broker were able to have their voices heard. This is a huge step forward in shareholder democracy. Attending an AGM as a retail shareholder has long been like breaking into Fort Knox. In short, if you buy shares through a broker, your name is not directly registered with the company you've invested in. So, until M&S' approach becomes the industry standard, many retail shareholders will remain in the dark and locked out of AGMs.

As for the virtual debate, the reality is physical only meetings are incredibly restrictive. The vast majority of shareholders can’t attend physical meetings in the middle of their working day, they need the flexibility of a virtual or hybrid option. Data from Lumi actually reveals that incorporating virtual access at AGMs increases engagement and attendance. Yet, fixating on the format here misses a significant point, the real issue is granting retail investors equal access to the meeting, regardless of it being in person or online.

Peter Fowler Lumi