Report and accounts printers do not believe they will be put out of business by new legislation that will allow companies to communicate electronically with shareholders.


Fulmar chief executive Mike Taylor said the proposals, put forward by E-Minister Patricia Hewitt in a final draft order that will make changes to the Companies Act 1985, would "not destroy report and accounts printing".


"Companies have never been required by law to produce a lavish 64pp document, but they choose to do so," he added.


But an ABN Amro analyst claimed: "From our standpoint I think it would be quite a good thing, as a lot of the information we have to deal with is time-sensitive.


"At present a company will normally give you a reporting calendar and information on their publishing run with some information coming through via e-mail."


Taylor claimed the legislation could be a catalyst for extra sheetfed business because it could lead to a reduction in run lengths.


First Impression client services director Jody McLeish agreed: "A lot of the blue-chip companies also have high-profile websites, and although they may put some of the information on their site, I can''t see those companies not wanting a quality document at the same time. I still envisage us being around for a few years yet," he said.


Companies will be able to provide shareholders and members with access to annual reports on websites.


Shareholders will also be able to use e-communications to appoint proxies and provide them with voting instructions.


Story by Andy Scott