A new service by Euroclear Sweden, the country’s central securities depository, lets shareholders of limited companies vote remotely at general meetings. The need for non-physical attention has become urgent with the covid-19 epidemic.
Euroclear Sweden labels its new service as “digital postal voting”, letting shareholders use the national BankID system for their digital identification.
A new Swedish law, with temporary exceptions to facilitate general meetings in companies and associations, came into force on 15 April 2020 – letting limited companies hold their votings with shareholder influence intact without the need for them to be physically present.
Shareholders can submit votes on agenda items for which a proposal for resolution has been included in the proposed agenda. However, where a proposal for resolution is not in the proposed agenda, for example on points of order at the meeting, the method cannot be used.
In Euroclear Sweden’s press release, the CSD’s head of general meeting services Torkel Edström points out that the postal general meeting services as such are not new, and that he sees the extension into the digital domain as “a natural addition”.
(Illustration: Tumisu / Pixabay)