Peak Proxy Season


Annual General Meetings: September 2011

A number of companies in the S&P CNX 500 index conduct their Annual General Meetings (AGMs) in the month of September 2011. Out of the 500 companies – 173 companies, i.e., 34.60% – have their AGMs in September.

 

This bunching of AGMs in a single month poses challenges for investors who have multiple holdings.

  • They need to devote time to analyze multiple resolutions tabled by the companies. This problem can be alleviated by relying on the services of a proxy advisory firm.
  • Inability to attend all meetings, leading to need for proxy voting services / solutions. If the solution is elegant, fund managers and compliance officers need not spend much time and effort in exercising their votes during the peak month of September.
  • Investors have to plan to attend / analyze / vote at various cities and venues in a rushed manner.

Companies – that are serious about conducting better shareholder meetings – need to avoid the peak month and conduct AGMs before September.

 

Key Findings

Out of 173 AGMs of S&P CNX 500 companies:

  • 18 companies are in Nifty
  • 13 companies are in Junior Nifty
  • 142 are other S&P CNX 500 companies
  • Majority of the meetings are to be held in the last week of September

 

 

For a detailed report, click on the link below:

AGMs in September