During the Covid-19 pandemic, the readiness with which issuers and other market participants have adapted to holding bondholder meetings virtually (rather than in person) signals the potential for greater use of virtual (or hybrid) meeting technology beyond the pandemic.
As we emerge from the pandemic and move into a more digitised era, the ICMSA Trustee Sub-Committee has reviewed and revised its pro forma set of Standard Provisions for Meetings of holders of bonds/notes to provide expressly for the holding of virtual or hybrid meetings (as an alternative to physical in person meetings). The ICMSA believes these revisions will benefit its members and market participants by standardising electronic and hybrid meeting procedures which aim to provide clarity and flexibility for issuers and/or trustees to choose which approach is most practicable in the circumstances.
The ICMSA has published Bulletin 220208/60 in relation to the publication of the updated pro forma set of Standard Provisions for Meetings of holders Bonds/Notes to provide for virtual and hybrid meetings.