VP Securities Services (VP) has acquired Danske Banks and Nordeas shareholder register activities in an effort to create a common infrastructure with VP as provider of services related to shareholder register and general meetings on behalf of the Danish financial sector.
“The market for services related to shareholder registers and general meetings has experienced great changes during the past years as a consequence of EU harmonisation and Corporate Governance demands says President and CEO, Johannes Luef, VP. “The acquisition enables VP to develop the most advanced shareholder register system on the market that meets the customers demand for investor relations and electronic communication with the shareholders,” he adds.
VP operates an infrastructure system in which all listed companies and their investors are registered.
“VP is now the direct link between issuers and investors,” Luef adds. “For the customers, the new system will mean faster electronic communication with the shareholders.”
After the acquisition, VP will develop an electronic proxy voting system and thus provide a highly efficient handling of powers of attorney and instructions to proxy, a step toward providing electronic general meetings.
Based on systems such as NetID and e-Boks it will be possible to invite shareholders to general meetings without sending physical letters and ensure that the shareholders actually do receive the invitations. This service can also be used to issue electronic financial statements and investor information.