Shareholders are told about the company's financial results and activities during the past year and its plans for the future. They are invited to elect or re-elect directors and to vote on other matters. Any shareholder has the right to question the board of directors. In practice, very few private investors ever attend AGMs. Letters are still one of a firm's main means of communication with the outside world.
Letterheaded paper is used, which sometimes includes the firm's logo.
There is a standard format for letters, which includes references, the date, the inside address, the salutation, the text of the letter and the close. If the salutation is 'Dear Sir' or 'Dear Madam', then the close should be 'Yours faithfully'. If the salutation uses the person's name, e.g. 'Dear Mr Brown', the close should be 'Yours sincerely'. Letters are also used occasionally for formal occasions within the firm, such as invitations, notices of promotion, dismissals, etc. Annual report and accounts.