The solution will allow Strate, along with key stakeholders, to provide general meeting services, and provide shareholders with a tool allowing them to vote remotely.
The agreement is intended to improve voting efficiencies and increase shareholder participation in South Africa.
Tanya Knowles, managing executive of fractal solutions, a division of Strate, commented: “The solution aims to service our clients’ needs across the market from transfer secretaries to issuers, custodians, asset managers and those holding shares in listed companies.”
“Given that it is an end-to-end solution—from the time a meeting is announced and all the way through the voting process to the publishing of results—it means that all stakeholders will truly benefit within the process.”
Lars Ottersgård, executive vice president and head of market technology at Nasdaq, added: “By leveraging blockchain, we are able to reduce friction in the voting and proxy assignment process and also ensure that all information is transparent to stakeholders when required and with the proper security, governance and risk procedures in place.”