The voting of the board is a way of making a decision, in which each shareholder has the right to express his opinion through the casting vote. Various issues can be put to the vote: mergers, acquisitions of other companies, personnel issues, and so on.
Remote shareholders meeting
A remote General Meeting is an opportunity to vote at the Meeting by submitting voting ballots remotely, without being physically present at the meeting venue. Voting is granted through a depository institution serving the shareholder.
The greatest threat is the deprivation of the shareholder of the right to express his opinion on a specific issue at the Meeting, the right to ask a question. To date, there is still no practice of appealing against a remote Meeting, but such a risk exists.
Another advantage of the remote Meeting is that it is a “silent” Meeting. No one comes anywhere and makes a fuss about the decision-making. In certain cases – very convenient.
Of course, given that the remote Meeting is held using electronic systems, all communications with shareholders take place exclusively in electronic format. This makes it possible to significantly reduce the number of shareholders who will be personally notified of the convening of the Meeting, respectively and reduces their number in voting at the Meeting. Although this paragraph applies mainly to post-privatization joint-stock companies. For example, the remote Meeting of the Central Securities Depository itself was attended by more shareholders than usually came to an ordinary face-to-face Meeting. In addition, at the remote Meeting, shareholders were more actively interested in the Meeting and submitted requests regarding agenda items, draft resolutions.
How online voting works
Online voting is an excellent tool for quick feedback, decision-making, and allows you to check with colleagues at any time. This is how you communicate that you remember them and their opinion is valuable.
- You can create your voting by configuring each of its parameters manually, or choose a ready-made template from the management platform that you work within your company.
- It will not be difficult to distribute the vote – usually users of the platform for the board of the company receive notifications. If this does not happen, then send the link to your general chat or email personally to those from whom you are waiting for votes.
- Flexible platform settings for shareholders make it possible to make voting open, closed, limit it in time, and take into account the quorum meeting. After the completion of the voting, the results are made public.
Using Internet voting is an easy way to get feedback or make decisions without having to sit in long meetings in the office.
Voting by different squads
If the agenda of the General Meeting of Shareholders includes issues on which voting is carried out by different compositions of voters, the determination of the quorum for deciding on these issues is carried out separately. At the same time, the absence of a quorum for deciding on issues voted on by one set of voters does not prevent the adoption of a decision on issues that are voted on by another set of voters, for the adoption of which there is a quorum.
In the absence of a quorum for holding the annual general meeting, a repeated general meeting with the same agenda must be held. The repeated general meeting is considered valid if it was attended by shareholders who in the aggregate have the number of shares specified in the company’s regulations.