VP Securities is the first provider in Denmark to introduce electronic voting at physical Annual General Meetings (AGMs). At its AGM on March 29, 2011, Danske Bank will be the first Danish listed company to enable its shareholders to cast their votes electronically.
Electronic voting at listed companies AGMs is being introduced all over the world, and the Danish dbut on March 29, 2011 will be at the Tivoli Congress Centre in Copenhagen, where VPs e-voter solution will be used. The solution supports the recommendations of the Committee on Corporate Governance to promote active ownership, while electronic voting with VPs e-voter solution makes it far easier to comply with the new rules in the Danish Companies Act on transparency in decision-making.
Danske Bank is the first to launch electronic voting with e-voter in Denmark, but I am convinced that in the course of a few years electronic voting will be the norm for listed companies. For VP INVESTOR SERVICES the introduction of electronic voting is a natural step towards the digital share culture that we are working to achieve, says VPs CEO Johannes Luef.
New rules in the Danish Companies Act widen shareholders opportunities to require a formal vote on all resolutions proposed at an AGM. These shareholder ballots are a lengthy process, involving the manual counting of paper ballots. The introduction of electronic e-voter ballots means that voting can take place rapidly and efficiently, and enables shareholders to vote on all of the resolutions proposed at an AGM.
The e-voter solution means in few minutes the company can see exactly how many shares voting rights have been exercised; the percentage of the share capital the votes represent; the number of votes represented; and the number of votes for and against, The statistics can also be used to give feedback to shareholders who did not attend the AGM, e.g. shareholders abroad, hereby promoting active ownership.
VP expects that the amended rules in the new Companies Act, and the recommendations of the Committee on Corporate Governance, will bring an upswing in formal votes at AGMs in the future, increasing the need for flexible and efficient solutions such as e-voter.