Proxymity, the leading digital investor communications platform, and Lumi, the global leader for AGM technology, have extended their relationship with the deployment of a market first digital connection for 100% of Issuers in Belgium and Luxembourg.
This move extends the existing partnership between the two organisations who have collaborated successfully to provide improved market efficiency and market communication. To date, over 350 meetings have been announced via the platform reaching shareholders connected to the platform, on average a week earlier than before, as well as safely delivering thousands of real-time votes and proxy instructions to Issuers.
The connection provides a simple, cost effective and easy solution for Issuers to achieve compliance to SRD II and progressive step towards Improved corporate governance for Issuers, Intermediaries and Investors connected to the respective platforms.
Rita Baeyens, Director of Strategic Business Development for Lumi commented on the announcement, saying “The extension of our relationship means we can go further to deliver seamless, digital solutions in response to the obligations placed on Issuers by the SRD II legislation. Issuers will benefit greatly from the reduction in paper, and the increased efficiencies and accuracy provided by electronic delivery, as well as having a local agent in the market”.
Dean Little, CEO and Co-Founder of Proxymity added, “For several years Proxymity and Lumi have partnered to bring positive change to the Investor Communications landscape, and we’re delighted to extend our partnership to reach 100% of issuers in Belgium and Luxembourg. The launch highlights the benefits that digital connections are bringing to the whole industry to issuers and investors alike”.
The transposition of the SRD II legislation into Belgian law was intended to strengthen the relationship between Issuers and their investors – both retail and institutional. The realities of implementation, however, has varied considerably giving differing outcomes for shareholders. The strengthening of the Lumi / Proxymity partnership will offer a single comprehensive, integrated, and transparent experience for the benefit of listed companies, as well as their shareholders – providing parity for Issuers across the market.