Metropolitan Bank and Trust Company, commonly known as Metrobank, is one of the largest banks in the Philippines. Metrobank was established in 1963 and offers various financial services for Filipino citizens in the country.
Metrobank recently chose to hold it’s annual stockholders meeting (ASM) using the ConveneAGM meeting platform. They wanted to ensure that their virtual ASM was being broadcast live and wanted their stockholders to go through a smooth ASM process.
Moderating Live Questions
Metrobank was able to quickly entertain questions during the virtual ASM. Expecting that their stockholders will be asking a lot of live questions, they delegated a moderator to filter out and read the questions that were submitted to ConveneAGM. Once approving the questions, the moderator would then direct the question to the Chairman or any of the attending directors in the meeting.
Through the real-time virtual ASM meeting platform, stockholders were able to submit questions to the moderators instantly and have them read out—keeping the momentum of the discussion rolling. The questions that they asked seamlessly integrated to the natural flow of the program.
Voting in Absentia and Live Voting
During the virtual ASM, stockholders were also able to cast their votes ahead of the meeting through ConveneAGM’s voting in absentia meeting platform. It also supported cumulative voting for the appointment of the external auditor and election of the directors of the corporation. In the case of the Metrobank, there were a total of twelve (12) seats to be filled for their election during the ASM.
Election of Directors
A Metrobank stockholder had the freedom and options to vote a number of his shares for any of the directors. The ConveneAGM meeting platform automatically computes the total number of votes a stockholder is allowed to cast, based on the number of shares owned.
In the case of the Metrobank, there were a total of twelve (12) seats that needed to be filled. For the election item, the number of shares of the stockholder was multiplied by fifteen and the product was be the total number of votes they were able to cast among the different choices.
In a streamlined voting process, stockholders needed only to input their desired number of votes per candidate. In cases where the value they inputted surpassed the total votes allowed, the virtual ASM meeting platform would notify them and prompt them to adjust their inputs.
Success with ConveneAGM
Metrobank was able to achieve a successful annual stockholder meeting thanks to the meeting platform. Rather than just doing a simple Zoom broadcast, ConveneAGM allowed the registration, voting, and Q&A of stockholders to be streamlined and structured. It ensured that stockholders were able to watch the webcast and participate just as they would in a physical ASM setup.
—
ConveneAGM is the premier meeting platform for organizations in the Philippines that helps streamline their annual stockholder meetings. Discover how ConveneAGM can help organizations by requesting a demo.