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News and Announcements

Omni Market Tide Holds Australia’s First Ever Virtual AGM

  • Published May 31, 2016 11:09AM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

Listed digital engagement company Omni Market Tide (ASX:OMT) yesterday made history, holding Australia’s first ever virtual AGM with live streaming and real-time voting.

Using their multi-company app OmniLOOP, designed for investors so they can receive company information and participate in company AGMs from wherever they are in the world, shareholders were able to view the AGM’s agenda, stream the proceedings live and be able to vote in real time.

Proving to both shareholders and corporate Australia that this technology works, Omni Market Tide believes that it will change the future of AGMs in Australia by:

  • Reducing costs – Due to outdated regulations and practices, ASX listed companies are spending $200 million on share registry services, $120 million on AGM meetings and $350 million on shareholder engagement.AGM costs alone range from $250,000—$1,000,000 for ASX200 companies.
  • Increasing shareholder engagement –Mobile technology is believed to have boosted investor engagement in the US, driving voting participation up to three times higher. Further, the ability to vote through a mobile platform has seen a 70% increase in voting.
  • Bringing investor relations into the 21st century – The law currently required all companies to give shareholders notice of AGMs and other general meetings personally or by sendingnotice by post, unless the shareholder has elected to receive them electronically. However, this could soon change following a proposal from the Government to allow companies to send notifications using any universally or near-universally accepted channel as a default method, including the mobile phone.Currently 72% of Australian adults own a smartphone.

To view the AGM Presentation, please click on the button below.

To download the full announcement, please click on the link below.

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