The Purpose of Proxy Voting
Shareholder voting is the primary means by which shareholders can influence the company’s or mutual fund’s operations, its corporate governance, and even activities of social responsibility that may fall outside of financial considerations.
An annual general meeting, or annual shareholder meeting, is primarily held to allow shareholders to vote on both company issues and the selection of the company’s board of directors. In large companies, this meeting is typically the only time during the year when shareholders and executives interact.
A member can appoint any other person to act as their proxy; it does not have to be another shareholder of the company. In practice, where the voting at a general meeting is to be held on a poll rather than a show of hands, many shareholders opt to appoint the chair of the meeting to be their proxy.
What is a proxy for AGM?
A proxy is a person who has been appointed to represent an owner or mortgagee at a meeting of the owners of the condominium corporation. This includes annual general meetings. Why would I appoint a proxy?
A shareholder proxy is an individual with legal authorization to vote on behalf of a company’s shareholder during an annual meeting. The shareholder can also opt to vote by mail. He or she must fill out and sign a shareholder proxy statement.
What does via proxy mean?
if you do something by proxy, someone else does it for you. Synonyms and related words. To not act, or to not do something.
Who can attend an AGM?
Attendance and speaking by directors and non-shareholders
(1) Directors may attend and speak at general meetings, whether or not they are shareholders. (b) otherwise entitled to exercise the rights of shareholders in relation to general meetings, to attend and speak at a general meeting.
What are the importance of AGM to the success of the business?
An AGM is a key medium used by companies to disclose information to stakeholders. Material information such as financial reports and audits are discussed during such meetings, giving stakeholders a chance to get more “credible” information so that they can take informed decisions.
The members (including shareholders) of the company are entitled to attend and vote at the AGM. … However, if the articles of association of the company provide for a chairman, such person shall chair the AGM of the company.
Can a proxy speak at an AGM?
ADVERTISEMENTS: (1) Any member entitled to attend a general meeting and to vote may send a proxy to attend the meeting and to vote on his behalf. But the following rules have to be followed for the purpose: … (c) A proxy can vote at the meeting only by poll unless otherwise provided in the Articles but he cannot speak.
What does appointing a proxy mean?
A representative; an agent; a document appointing a representative. A proxy is a person who is designated by another to represent that individual at a meeting or before a public body. It also refers to the written authorization allowing one person to act on behalf of another.
Can a proxy appoint a proxy?
A member may appoint one or more proxies to vote in respect of the different shares held by him or he may appoint one or more proxies in the alternative, so that if the first named proxy fails to vote, the second one may do so, and so on.