Efficiency gain for listed company at general meeting with Konsento using the example of Xlife Sciences
Xlife Sciences AG, a Swiss-based company for the value development and commercialisation of promising research projects, is at the forefront of the life science industry. The company invests in innovative technologies and supports researchers and entrepreneurs in positioning, structuring, developing and realising their concepts. Xlife Sciences' shares are listed on the SWX Sparx, which makes the organisation of Annual General Meetings (AGMs) an important event.
Challenges at the Annual General Meeting
The main challenge for Xlife Sciences was to quickly and correctly count the votes of shareholders submitted via various channels. The aim was to minimise the workload for the Board of Directors and the scrutineers and reduce potential sources of error. As the shareholders' email addresses were not yet known, the invitations to the AGM initially had to be sent out by postal mail.
Support from Konsento
This is where Konsento's innovative general meeting tool comes into play. Konsento has not only orchestrated the printing and mailing of the invitations, but together with Xlife Sciences has taken measures to enable invitations to be sent by e-mail in the future. This will not only save costs for printing and mailing, but also significantly reduce the use of paper resources and support Xlife Sciences in achieving its ESG goals.
Efficiency gains during the Annual General Meeting
The advantages of Konsento are clearly evident before and during the general meeting:
- Easy registration of written voting instructions: Authorising shareholders can be easily registered by dragging and dropping their names in a specific proxy dashboard. Share votes per shareholder are stored in the system so that the independent proxy does not have to register, consolidate or add up any additional numbers.
- Electronic voting instructions: Around 30% of voting instructions were submitted electronically. These were recorded directly in the system by the shareholders themselves. Thanks to Konsento's clear and intuitive dashboard, the independent proxy had full transparency and did not have to take any additional measures.
- Transparency for proxies: Konsento offers the independent proxy a clear presentation of all votes represented, sorted by written and electronic instruction. Institutional proxies can also vote directly in Konsento and invite their clients to vote electronically. This eliminates the need to fill in Excel-spreadsheets and manually transfer and add up data, which saves considerable time and minimises sources of error.
- Voting via mobile devices
During the Annual General Meeting, shareholders were able to vote conveniently using their mobile devices. This eliminated the need to rent expensive televoting devices. At the same time, Konsento provides alternatives to ensure a smooth process even if not all shareholders have sufficiently charged mobile devices with them.
- Consolidation and calculation of results
All votes represented directly and by proxy were consolidated and totalled in real time in Konsento. The voting result was available just a few seconds after the end of the agenda item and was shown in the granularity required for the minutes or public notarization.
- Automatic creation of minutes: Konsento automatically creates draft minutes that cover all legal requirements and only need to be supplemented with requests to speak.
Conclusion
Konsento's support at this year's Xlife Sciences Annual General Meeting clearly demonstrated how efficiently and error-free such events can be organised. Konsento's innovative functions not only enabled considerable time savings and cost efficiencies to be realised, but also significantly reduced the administrative burden. This is a valuable step towards a digital and sustainable future of corporate housekeeping.
We would be happy to present our innovative AGM tool in more detail during a non-binding demo appointment. .
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