The National Settlement Depository (NSD), Russia’s central securities depository, has predicted two-fold growth in demand for its e-voting service as digital services have become increasingly popular all over the world due to COVID-19.
The trend which will see people switch to online activities over personal meetings will also be supported by legislative changes and the current COVID-19 pandemic, NSD revealed.
NSD’s e-voting service allows voting from anywhere in the world and participants can also view the meeting’s agenda and materials, follow the meeting online, and connect the issuer.
Denis Buryakov, managing director for depository operations, NSD, said: “E-voting lets shareholders continue to have an influence on their company’s operations, and issuers will be able to observe shareholders’ interests.”
“We expect the number of shareholders using the e-voting service will double (in 2019, 4.5 thousand shareholders participated in this),” Buryakov affirmed.
NSD noted that Russian laws let issuers refuse to hold shareholders meetings in joint attendance in 2020 following resolutions adopted by the board of directors and to conduct general meetings only via remote voting.
It also highlighted that joint stock companies will be able to maintain and even increase the share of active shareholders.
Buryakov, said: “In these circumstances, remote voting is a safe way to join a meeting as compared with personal attendance or ballot delivery by mail.”
“NSD offers its e-voting service which has already shown itself to be a convenient and reliable way on the Russian market for an issuer to convene a meeting of shareholders and let shareholders vote on agenda items,” Buryakov added.
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