The AGM Is Going Hybrid: What IROs Need to Get Right

CAs shareholder meetings become more digitally accessible, IR teams need to think carefully about participation, transparency and the experience on both sides of the screen.

A shareholder should not need to be sitting in the front row to have a voice at your AGM.

That idea is gaining ground in the UK, where the debate around shareholder meetings is moving quickly. In October 2026, the Investment Association updated its guidance on virtually enabled shareholder meetings, with members favoring hybrid AGMs when companies introduce a virtual element. The rationale is practical: a well-run hybrid meeting can broaden participation while preserving the access to the board and accountability investors expect from an AGM.

At the same time, the UK government is considering changes that would clarify how virtual locations fit within company meeting rules, alongside potential safeguards for shareholders. For IROs, these developments are worth watching well beyond the UK. Shareholder registers increasingly span countries and time zones, while digital access to corporate events has become routine. As hybrid participation becomes part of more AGM conversations, expectations are getting clearer too. Shareholders joining remotely need a genuine opportunity to take part.

Why Should IROs Consider Hosting a Hybrid AGM?

In the UK, around 60% of UK quoted shares are held by overseas investors, according to ONS data. Yet most FTSE 350 AGMs in 2025 had 25 or fewer retail shareholders attend physically. Many IROs will recognize the mismatch: the shareholder register can span the globe while the AGM still takes place in one room half a world away.

A hybrid AGM can give more shareholders the opportunity to participate, regardless of location. Eligible online shareholders can follow proceedings and, depending on the meeting structure and applicable requirements, access materials, ask questions and vote.

Hybrid events can also show what broader digital access looks like in practice. At a recent Notified client event in London, more than 70% of the live audience joined online while the company maintained an engaging in-person experience at the venue. See how the client extended its investment story to investors everywhere.

What Does Meaningful Participation Look Like in a Hybrid AGM?

Giving shareholders another way to attend the AGM only works if they can participate once they join. For remote shareholders, that starts with straightforward registration and authentication, clear voting instructions, and an easy way to submit questions. During the meeting, they should be able to follow the discussion, engage with the business being conducted and hear directly from the board alongside shareholders in the room.

The Investment Association recommends allowing live questions and follow-ups, being transparent when questions are grouped or filtered, and publishing a record of submitted questions afterward, including those left unanswered. The Financial Reporting Council similarly encourages clear participation instructions, shareholder questions and voting, and the appropriate use of technology to increase participation.

Those expectations provide a useful benchmark for IR teams beyond the UK. From a shareholder's perspective, the experience is fairly practical. Can they join easily? Can they follow the discussion? Can they vote, ask questions and hear how the board responds?

A strong hybrid AGM gives the remote audience a genuine place in the meeting.

Keep the Shareholder Journey Simple

Once you've established how shareholders should be able to participate, look at how easily they can get there.

A hybrid AGM introduces additional touchpoints around authentication, meeting access, voting and technical support. Test that journey from the shareholder's perspective ahead of the meeting. Use the instructions shareholders will receive, try common devices and browsers, and make sure it is clear where someone can get help if something goes wrong.

Accessibility should be part of that review. Notified’s IR Event Platform supports WCAG 2.1 AA accessibility, multi-device experiences, moderated Q&A, multi-language capabilities, live subtitles and transcripts.

The aim is to make the mechanics of joining and participating feel routine, so shareholders can focus on the meeting itself.

Build the Contingency Plan Before You Need It

Anyone who has managed a live investor event knows how quickly a technical issue can take over the day. During a hybrid AGM, the stakes are higher because that issue may affect a shareholder's ability to follow proceedings, ask questions or vote.

The Investment Association specifically recommends having arrangements in place for technology failures when virtual participation is offered.

Before AGM day, establish who owns production, where shareholders can get technical assistance and how an interruption to the meeting will be handled. Rehearse those scenarios alongside the meeting itself so roles and escalation paths are already clear when the board and shareholders go live. Notified’s AGM planning checklist covers rehearsals, voting functionality and technology testing in more detail.

Extend the AGM Beyond the Live Meeting

The shareholder experience can continue after the chair closes the meeting. On-demand replay, presentations and supporting materials can serve shareholders who could not attend live or want to revisit the discussion.

Engagement data can also give the IR team useful context afterward. Questions raised during the AGM, participation patterns and recurring areas of interest may highlight topics that need more attention in subsequent investor communications.

The Financial Reporting Council similarly encourages companies to look beyond the annual meeting itself and provide opportunities for shareholder engagement throughout the year.

What Should IROs Pressure-Test Before a Hybrid AGM?

Every issuer's AGM will look different. Shareholder composition, geography, governance requirements, expected attendance and the matters going to a vote should all inform the format.

If you're considering hybrid, these six questions offer a useful final pressure test:

Participation: Can remote shareholders actively participate rather than primarily watch?

Q&A and voting: Can eligible shareholders ask questions and vote without unnecessary friction?

Board access: Can the remote audience follow and engage with the board?

Accessibility: Does the experience work across common devices and accommodate accessibility needs?

Support and contingencies: Do shareholders know where to get help, and does the team know what happens if something fails?

Post-meeting access: Where will investors find the replay and supporting materials?

For teams working through the operational details, the Notified AGM checklist for corporate secretaries walks through the full process before, during and after the meeting.

A Hybrid AGM Still Has to Deliver What Shareholders Came For

Recent developments in the UK point to a broader shift in how companies and investors are thinking about the AGM. Digitally enabled meetings are gaining acceptance alongside clearer expectations around participation, transparency and shareholder rights.

For IR teams, hybrid offers a way to extend the reach of the meeting while preserving its core purpose. Shareholders come to hear from leadership, exercise their voting rights, raise concerns and engage directly with the board. A well-run hybrid meeting gives more of them the opportunity to do so, regardless of location.

Notified and D.F. King, both part of Equiniti Market Engagement, support the AGM journey with virtual and hybrid meeting technology and production alongside shareholder intelligence, proxy solicitation, vote tracking and engagement expertise.

Planning your next AGM? Explore Notified’s IR Events solutions to see how we support virtual and hybrid shareholder meetings.