Euroclear Sweden has introduced a new service that will allow shareholders to place votes digitally ahead of general meetings.
Shareholders can use BankID verification on Euroclear Sweden’s website to send postal votes to the general meeting, which means the shareholders do not need to be physically present at the annual general meeting in order to vote.
This comes amid challenges associated with the COVID-19 pandemic which has seen countries around the world go into lockdown and avoid face-to-face meetings.
Euroclear noted that the new law on temporary exceptions to facilitate general meetings in companies and associations entered into force on 15 April 2020.
The law allows limited companies to hold general meetings with retained shareholder influence without the shareholders having to be physically present at the general meeting.
Michael Carty, CEO of Euroclear Sweden, said: "Swedish limited companies are actively working to protect their shareholders during the COVID-19 pandemic. By launching a digital voting service, we are enabling shareholders to actively participate in General Meetings without needing to be there in person.”
"Euroclear Sweden has worked with limited companies’ General Meetings for many years. We are pleased to be able to offer digital postal voting as a natural addition to our other General Meeting services," Torkel Edström, head of Euroclear Sweden’s general meeting services added.
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