1. Getting in the Room
To attend an AGM, you must be a shareholder or a "proxy."
- Buy a Share: Buy 1 share at least 2 months before the AGM.
- The "Proxy" Method: If you cannot buy a share, find a sympathetic shareholder. They can appoint you as their "Corporate Representative" or "Proxy" to attend and speak on their behalf. This is a legal right (UK Companies Act s.324).
2. The Rules of Engagement
- Read the Room: AGMs are formal. Do not shout or chant immediately. Use the formal procedures to embarrass the Board with their own rules.
- The "Q&A" Session: This is your moment. The Chair will ask for questions on specific resolutions (usually the Annual Report or Re-election of Directors).
- Microphone Discipline: Once you have the mic, do not let go. Be polite but firm. "Mr. Chair, I have a follow-up regarding the risk register."
3. Question Scripts (The "Pincer" Technique)
Do not make a speech. Ask a question that is impossible to answer well.
Option A: The Fiduciary Trap (For the Audit Chair)
"My question is for the Chair of the Audit Committee. In the Annual Report, the risk register mentions 'geopolitical instability' but makes no specific provision for legal liabilities arising from the ICJ ruling on genocide. Given that supply chain complicity carries criminal liability for directors, has the Audit Committee commissioned a specific legal opinion on our Israel operations? If not, why are you exposing shareholders to this unquantified risk?"
Option B: The Reputation Trap (For the CEO)
"Mr. CEO, you speak about 'Company Values' and 'Ethics' on page 4 of the report. Yet, Human Rights Watch and the UN have identified our key partner as complicit in war crimes. Can you explain to shareholders how financing [Project Name] is compatible with our stated ESG values, or should we assume the ESG statement is merely marketing puffery?"
Option C: The "Stranded Asset" Trap (For the CFO)
"Mr. CFO, we have significant capital expenditure tied up in [Facility/Contract]. If sanctions are applied or the legal framework shifts—as the UK government has hinted—this asset becomes zero. Have you stress-tested our balance sheet for a total write-down of Israeli assets? If not, is the dividend truly secure?"
4. Handling the "Non-Answer"
The Chair will try to brush you off: "Thank you, we note your concern. We follow all laws."
The Rebuttal:
"Mr. Chair, with respect, you did not answer the question. I asked if you have commissioned a specific legal opinion on the ICJ ruling. Yes or no? The record should reflect that the Board refused to confirm whether it has taken legal advice on war crimes liability."
5. Post-AGM Amplification
- Record It: If allowed (check bylaws), record the audio.
- Press Release: Immediately send a release to sector press: "Board of [Company] Refuses to Deny War Crimes Liability at Stormy AGM."
- Shareholder Letter: Write to major shareholders: "We asked the Board X. They failed to answer. This lack of transparency is a governance failure."
Last updated: January 2026