Electronic voting used in Korean AGM for the first time
At Samsung Electronics 2021 Annual General Meeting, the tech giant invited shareholders from around the world to tune in. We were thrilled to work with both Danim and Samsung Electronics to host such a successful and high-profile event. The AGM is of particular significance regionally, as this meeting marked the first time that a Korean corporation utilized an electronic voting solution during a shareholder meeting.
Thanks to our world-leading keypad technology, attendees were able to vote on resolutions without disruption. Whilst it is common practice to pass AGM resolutions by clapping in this part of the world, this year the global tech giant opted to use an electronic voting solution. This new method of voting was especially valuable as social distancing measures could be strictly adhered to as there was no voice vote or passing around of paper ballots.
This system also enabled a better audit trail, and ensured that dissenting opinions were registered, and a fulsome voting report could be created. With the Lumi solution, Samsung and Danim were able to provide a transparent view of voting habits, with every one of the eight resolutions voted on via keypads (combined with votes cast prior to the meeting,) with the final vote results displayed on projection screens within seconds. This provided the board with an insight into the minds of their stakeholders, and shareholders with confidence their voices were being heard, thanks to the innate transparency of the Lumi system.
Despite the restrictions in travel and social distancing, there was a record turn out in shareholders, with over 1000 participants attending the meeting- more than double the number of attendees at last year’s meeting. This level of attendance, in combination with those who were voting remotely or by proxy, made for a complex meeting. Thanks to the experience of both Lumi and Danim, the AGM was presented without a problem, and all members eligible to vote were able to do so without being constrained by locality or pandemic restrictions.
It is our hope that alongside Danim, we will be able to bring electronic voting systems to the region, to help world-leading companies innovate their shareholder engagement practice and deliver more accessible, transparent meetings.