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80 Russian Issuers Use E-proxy Voting

22.07.2015 12:00 / TASS

In May-June 2015, during the period when shareholder meetings are conducted in Russia, issuers were able to utilize electronic technologies and ISO standards to inform shareholders and vote at meetings, says National Settlement Depositary.

79 issuers, including major ones, such as Gazprom, Sberbank, and Moscow Integrated Power Company, conducted shareholder meetings using ISO 20022, an international corporate actions standard. As a result, shareholders now have the opportunity to receive information remotely about meetings and meeting materials, to vote on agenda items and to see meeting results, states the NSD press release.

In April 2015, the e-proxy voting technology became available in Russia. The e-proxy voting technology allows investors, if securities are safe-kept in depositories, to vote remotely and completely replaces paper documents.

Since the launch of e-proxy voting, more than 1,100 meetings have been held in which shareholders could exercise their rights using the e-proxy voting technology.

The new technologies have been implemented as a part of the corporate actions reform initiated by NSD on the Russian market.

In addition to the e-proxy voting currently available, which allows shareholders to vote via their depositories, NSD plans to introduce another technology – e-voting, which allows investors to vote directly and attend shareholder meetings online.

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