Every year, the Annual General Meeting (AGM) gives Australian shareholders a seat at the table. Whether you’re a seasoned investor or new to the ASX, understanding AGMs is key to holding companies accountable and making the most of your shareholding. With 2025 ushering in fresh digital trends and regulatory tweaks, let’s unpack what’s changing—and why it matters.
Why AGMs Matter: The Backbone of Corporate Transparency
AGMs aren’t just a formality. They’re the cornerstone of corporate governance, offering investors a direct line to company directors and executives. At an AGM, shareholders:
- Vote on key resolutions, such as director appointments and executive pay
- Receive updates on financial performance and strategic direction
- Ask questions directly to the board
For listed companies, holding an AGM is a legal requirement under the Corporations Act 2001. For investors, it’s a rare opportunity to influence the direction of the companies they own—even if only by a few shares.
AGMs in 2025: Digital Evolution and Regulatory Updates
The COVID-19 pandemic accelerated the move to virtual and hybrid AGMs, and that trend is here to stay. The Corporations Amendment (Meetings and Documents) Act 2022 paved the way for companies to hold meetings online, and in 2025, most ASX 200 companies are embracing the flexibility of hybrid formats.
Key updates for 2025 include:
- Virtual Participation: Companies must provide secure, accessible online platforms for shareholders to vote and ask questions. The Australian Securities and Investments Commission (ASIC) continues to enforce standards for digital inclusivity and transparency.
- Notice Periods: Shareholders must receive at least 28 days’ notice for an AGM, with digital delivery now the default unless paper is requested.
- Proxy Voting: Electronic proxy voting has become the norm. Shareholders can nominate a proxy online, making participation easier for retail investors.
For 2025, companies are under pressure to make meetings more interactive and less scripted. Shareholder activism is on the rise, with climate-related resolutions, gender diversity, and executive pay among the hottest topics.
Getting the Most Out of Your AGM Participation
With so much at stake, it pays to prepare for an AGM. Here’s how Australian investors can make their voices heard:
- Read the Notice of Meeting: This document outlines the agenda and resolutions. Don’t skip the Explanatory Memorandum, which gives context to voting items.
- Submit Questions Early: Most companies now let shareholders submit questions in advance, increasing the odds they’ll be addressed live.
- Engage with Proxy Advisers: Services like the Australian Shareholders’ Association and Institutional Shareholder Services provide voting recommendations and analysis, helping investors make informed choices.
- Watch for ESG Issues: Environmental, Social, and Governance (ESG) topics are front and centre. In 2025, expect more resolutions on net zero targets, board diversity, and supply chain transparency.
Real-world example: At the 2024 AGM for Woodside Energy, shareholders pushed for clearer climate disclosures and a more ambitious emissions reduction plan. With mounting pressure from institutional and retail investors, the board was forced to address climate strategy more thoroughly in 2025.
The Future of AGMs: More Accessible, More Accountable
AGMs are evolving. The shift to digital formats is making meetings more accessible, especially for retail investors outside major cities. Regulatory oversight is tightening to ensure transparency, while activism is driving boards to listen harder and act faster.
Whether you own a handful of shares or a significant stake, your participation at the AGM can make a difference. In 2025, Australian investors have more tools and more influence than ever—so use them to shape the companies you invest in.
