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Moscow Exchange has carried out an annual general meeting of shareholders (AGM) in absentia with the use of the E-voting system developed by National Settlement Depository (NSD).
Electronic voting was available from 8 to 27 April 2020.
The share of Moscow Exchange shareholders who participated in the AGM and voted electronically (via the E-voting and the E-proxy-voting systems) increased from 76.9% in 2018 to 99.8% in 2020. The total number of Moscow Exchange shareholders who took part in the AGM increased five-fold as compared with the 2018 AGM, when the shareholders were allowed to use the E-voting service for the first time.
The number of shareholders who used the E-Voting service grew more than 20 times as compared to 2018: 1,659 shareholders voted or 82.4% of all AGM participants (as compared with 82 shareholders in 2018, or 20%).
“This situation gave additional impetus to the development of NSD services based on digital signatures and remote identification, such as electronic voting. Now, e-voting is very popular due to obvious reasons: it is safe, contactless, and allows shareholders to effectively exercise their corporate rights. The convenience of the service is that shareholders can stay home and view the meeting’s agenda and AGM materials, complete and send the electronic ballot, as well as directly address questions to the issuer,” said Denis Buryakov, Managing Director for Depository Operations, NSD.
“Our experience in using e-voting systems allows shareholders to successfully exercise their rights under these new circumstances. A remote work format and self-isolation have accelerated the development of electronic services including services related to corporate governance. We succeeded in increasing the degree of involvement of shareholders, including individuals, in exercising their rights. This is especially important for us, given that the number and the share of individual shareholders in our Company’s capital are increasing,” added Alexander Kamensky, Director of the Corporate Governance Department, Moscow Exchange.