According to the PFSA’s position of April 29th 2020, the obligation to ensure real-time broadcast of General Meetings applies only to those public companies which will give their shareholders the possibility of participating in General Meetings via electronic means of communication.
The Company has carried out preliminary analyses of the possibility of organising General Meetings using electronic means of two-way communication. However, due to legal, organisational and technical risks, it has not yet broadcast its General Meetings for attendance by shareholders using electronic means of communication. In the Company’s opinion, no practices have yet been developed to ensure reliable identification of shareholders and the security of electronic communication, including the voting procedure. The Company believes there is a risk that shareholders may challenge resolutions in the event of any technical or organisational issues. In addition, the Company shareholders have not yet requested that General Meetings be broadcast in real time.