Shareholder communications: electronic available as the default

Just had the BP AGM notice in and saw an interesting development.

Since about 2000, it has been possible for companies to send their shareholders annual reports electronically (usually in the form of an e-mail saying that a PDF was available on their website) should the shareholder opt in to this service and should the company (or their Registrar) offer this service. However, should a shareholder wish to receive hardcopy communication this would be just as acceptable - and the default method.

I've just had the BP AGM notice and there is a motion on the agenda to make electronic communication the default method for receiving shareholder communications, whilst making it quite clear that hardcopy is entirely acceptable - but would require an active decision to elect for hardcopy.

The full text of the BP motion - along with a good explanation - is on BP's website in the Notice of the Meeting which can be found at:

with quite a good explanation of the relevant resolution (21) at: 14762&contentIdp27944 IMHO, allowing the possibility of making the electronic method the default communication is "a good thing" This change won't affect shareholders in nominees (and may even make their position better) This change will require a shareholder to submit an e-mail address - which might take a bit of doing

Allan