COVID-19 and Virtual AGMs
Updated: Sep 10, 2022
So, you want to host a Virtual AGM! Since most in-person meetings and events are cancelled until further notice due to the COVID-19 pandemic, many businesses, not-for-profits, and associations are examining alternate options to replace those once held in on-site. Depending on the Constitution of your organisation, you may consider the option of conducting a virtual AGM.
In Australia, there are two secure software platforms available as follows:
Option 1: Lumi Global
The only AGM-specific software currently on the market, Lumi Global is designed with the corporate client in mind. Lumi Global staff take care of all the technical aspects of hosting your AGM, including managing your slides, voting on a secure platform, moderating questions, and more. In other words, using Lumi Global enables you do what you do best – manage the day-to-day running of your company. Planning your AGM is as simple as organising a booking with Lumi Global and providing them with the material they need to present on your behalf. Lumi Global is a high-end secure software platform, so your data and the content of the meeting is guaranteed to be secure.
Cost: 11K + GST Note: Lumi Global do not offer discounts for Not-for-Profit organisations.
Option 2: Zoom
If you are willing to perform more of the leg-work to conduct a successful and secure AGM online, you might consider Zoom. Zoom provides the ability to conduct a secure, locked meeting to enable members to view a presentation. If you are already using Zoom Webinar, the format will be familiar to you. A presenter is able to project their screen to all members, thus providing a visual presentation of details being discussed. Members may ask type questions, which are moderated on the spot. Further, Zoom has a polling feature, which can be used during the meeting; the results can be downloaded later. Since there is a moderate level of set-up required to be done by the host, Zoom is an affordable alternative to more high-end software.
Cost: Zoom Pro $20.99 per month Add on: Zoom Webinar – 500 Participants $196.00 per month (which you will need to cancelled after your AGM)
As a result of researching a number of software options, I can confidently recommend both Lumi Global and Zoom as reliable, secure platforms for remotely conducting your virtual AGM. The choice is entirely up to the individual organisation, your expectations of what the software can do for you, the number of attendees, and your budget.
For publicly listed companies and organisations expecting over 200 attendees, Lumi Global is a great option for you. Although priced on the higher end, Lumi Global takes care of all of the work for you. They have a dedicated team who work behind the scenes on the technology side to ensure that your AGM runs smoothly.
For not-for-profits and associations, I recommend Zoom. This option is a reasonably-priced alternative to the more expensive software and has some great features that, with minimum training, are easy to facilitate. If you are already paying for the Zoom Webinar subscription, the additional cost of Zoom Pro is negligible.
For more information about setting up a Zoom Webinar and the key items to consider, please feel free to contact us!