This year, Allianz AG is inviting shareholders to its annual general meeting (AGM) via e-mail. Since last year's AGM, close to 12,000 shareholders have signed-up to receive e-mail invitations. Allianz is the first German DAX company to use this route.
"Sending invitations via e-mail saves printing costs and postage, and allows shareholders to comfortably register for the AGM via their own PC. This also reduces the volume of paper that come back in response to the invitations," explains Klaus Schmidt, general manager of ADEUS Aktienregister-Service-GmbH. ADEUS is an Allianz Group company which operates the share register of Allianz AG, and of other companies like Deutsche Telekom and Lufthansa.
Allianz now inviting shareholders to AGM via e-mail
Allianz AG is the first DAX-company to send out invitations to its annual general meeting via e-mail. Companies are increasingly using Internet technology to reach shareholders who are not personally attending AGMs. This raises the question: Will AGMs go completely virtual in the near future?
Allianz is the first DAX company to send out AGM invitations via e-mail
Allianz's online service is among the best
Increasingly, public companies are looking to Internet technologies to facilitate online participation of shareholders at their AGMs. But the service quality varies, according to a new study conducted by Dr. Sonje Webconsult. The study examined around 50 different criteria to analyze DAX companies and their efforts to make their AGMs accessible via the Internet.
The study found that Allianz ranks among the top three DAX companies with the best online offerings in terms of basic information, additional services, service level and navigational help. "Sending out e-invitations this year has further strengthened the service we offer to our shareholders," Schmidt adds.
The study found that Allianz ranks among the top three DAX companies with the best online offerings in terms of basic information, additional services, service level and navigational help. "Sending out e-invitations this year has further strengthened the service we offer to our shareholders," Schmidt adds.
Allianz shareholders have full access via Internet
Shareholders of Allianz AG can register online for the AGM, meaning they can either order admission cards or authorize representatives of Allianz AG to exercise their voting rights at the AGM. They can even use the Internet to change their voting instructions until just before the voting begins.
In 2003, about 30 percent of shareholders who authorized representatives of Allianz AG to exercise their voting rights used the AGM online service. "Last year's result clearly surpassed our expectations," says Schmidt. "Moreover, Internet technologies are helping us to follow corporate governance principles by helping us to improve the level of cross-border voting, and with this, the participation of our shareholders worldwide."
Shareholders not attending the AGM can view the entire event via live webcast. Non-shareholders can view the live speech of Allianz's CEO Michael Diekmann.
In 2003, about 30 percent of shareholders who authorized representatives of Allianz AG to exercise their voting rights used the AGM online service. "Last year's result clearly surpassed our expectations," says Schmidt. "Moreover, Internet technologies are helping us to follow corporate governance principles by helping us to improve the level of cross-border voting, and with this, the participation of our shareholders worldwide."
Shareholders not attending the AGM can view the entire event via live webcast. Non-shareholders can view the live speech of Allianz's CEO Michael Diekmann.
Are virtual AGMs in our near future?
A growing percentage of Allianz shareholders outside of Germany (roughly 42 percent at year-end 2003) raises the question whether a virtual AGM will someday replace the conventional AGM. Schmidt: "Not in the near future. While we want to provide every possibility for our shareholders to participate in the AGM, we view our online offering as complementary to the actual event."
Schmidt adds: "Nevertheless, our efforts so far have been well-received. Our present success could also promote the acceptance level of virtual AGMs in future."
Allianz AG's annual general meeting takes place on May 5, 2004 at the Olympiahalle in Munich. Further information is available at www.allianzgroup.com/agm.
Schmidt adds: "Nevertheless, our efforts so far have been well-received. Our present success could also promote the acceptance level of virtual AGMs in future."
Allianz AG's annual general meeting takes place on May 5, 2004 at the Olympiahalle in Munich. Further information is available at www.allianzgroup.com/agm.
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