The Art of the AGM: Strategy, Shareholders, and Seamless Execution
Learn about the dual forces that shape a successful Annual General Meeting (AGM) as Christopher Skroupa and John Grau engage on the technical choreography companies must master to communicate effectively and coordinate confidently. The conversation explores how trust is built not just through what is said, but how—and to whom—it’s delivered. It’s a timely dialogue for leaders navigating the increasingly complex terrain of investor engagement.
Written by: Christopher P. Skroupa, Founder & CEO, Skytop Media Group
Christopher: John, when preparing for an AGM, how do you distinguish between messaging and mechanics?
John: We think of the AGM in two dimensions. First, there’s the thematic layer—the messages a company wants to convey. Second, there’s the mechanical layer—the channels and processes required to deliver those messages. Proxy solicitors like us lead on the latter. While we do contribute to messaging based on shareholder insights, the narrative itself is typically shaped by investor relations teams, PR advisors, and other specialists.
Christopher: The mechanics sound complex. What makes this environment so challenging?
John: It’s highly technical, tightly regulated, and frankly, a bit arcane. We don’t love complexity, but it’s reality. Companies must execute flawlessly within this framework—understanding deadlines, filing requirements, and communication protocols. Coordination across legal, IR, and proxy teams is essential.
Christopher: How early should companies begin preparing for shareholder engagement?
John: Ideally, year-round. Successful AGMs are built on continuous shareholder surveillance. Companies should be tracking new investors and shifts in ownership well before the record date. That way, when the AGM approaches, leadership knows exactly who the key players are.
Christopher: Can you explain how shareholder identification works in practice?
John: Absolutely. The NOBO list—non-objecting beneficial owners—is a starting point. Proxy solicitors obtain it right after the date of record. But that’s only part of the picture. We also investigate OBOs—objecting beneficial owners—who are hidden behind custodians like banks or brokers. With diligent research, we often uncover significant shareholders that would otherwise remain invisible.
Christopher: Once shareholders are identified, what does effective outreach look like?
John: It’s multi-channel and tailored. Traditional methods like postal mail, email, and phone calls still matter. But companies are increasingly using IR websites and social media to meet shareholders where they are. The key is understanding which channels each investor prefers—and using them to build trust and clarity.
Christopher: What’s the most important principle for companies to keep in mind during AGM season?
John: Simplicity. Make it easy for investors to find information, ask questions, and vote. The AGM process is inherently complex, but companies that streamline access and communication tend to navigate it with confidence and credibility.