Precise Biometrics is proceeding with plans to hold its Annual General Meeting on May 15th, but is asking shareholders to vote online or by mail.
In a statement, the fingerprint biometrics specialist said that registered shareholders will be able to vote on AGM resolutions by downloading a form from the company’s website, and then either sending it by email or regular mail, in which case it must arrive to the company no later than Monday, May 11. The request for remote voting is part of an effort to minimize the risk of spreading COVID-19, though Precise Biometrics still intends to hold a physical, rather than virtual, AGM.
That having been said, Precise Biometrics is imposing various restrictions on its AGM in order to discourage physical attendance of the meeting. No food or beverages will be offered, and there will be no speeches from the Chairman of the Board, CEO, auditor, or representative of the nomination committee; there will instead be a pre-recorded speech from the CEO posted on Precise Biometrics’ website. Capacity will be limited, and there will be no time allotted for general questions.
Precise Biometrics’ approach to this year’s AGM may, to some extent, reflect that of its home country. Sweden’s COVID-19 lockdown strategy has been unusually lax compared to many other countries, with government authorities relying more on voluntary social distancing from the public than on policed restrictions and outright office and business closures. As a result, the country has seen higher casualties from the virus compared to those of its neighbors, though authorities hope to establish a level of ‘herd immunity’ over time.
The AGM announcement comes about a month after the publication of Precise Biometrics’ Annual Report for 2019, which highlighted the company’s increased sales and improved net result in comparison to 2018.
May 1, 2020 – by Alex Perala