LONDON, 13 September 2022 – Proxymity, the leading digital investor communication platform announced today that it has recognised the milestone of over 50% of the UK FTSE 100 companies now using Proxymity’s platform for proxy voting. All are serviced by the three largest UK Issuer Agents, Computershare, Equiniti, and Link Group, who are already well established on the platform.
Proxymity’s platform powers its two main offerings, Proxymity Vote Connect, and Shareholder ID. The Vote Connect service allows “golden source” meeting announcements and agendas to be published directly from issuers to investors and votes to be sent directly from investors to issuers.
By sharing announcements via Proxymity and allowing voting on the platform, investors are receiving governance information in real-time and able to vote until the market deadline which equates to, on average, an extra 5 working days to make their governance decisions. In addition, issuers are benefiting from seeing voting intentions in real time and more informed voting providing better governance for all.
Other leading UK companies have not been slow to notice the benefits of joining the platform, with 40% of the FTSE 250 already on board and counting.
In line with the recent Financial Reporting Council (FRC) publication on July 28th, issuers, their registrars and Proxymity are working together to utilise technology to increase voting levels.
Dean Little, Co-Founder and CEO, Proxymity, said: “After less than two years of trading and as we approach the end of the 2022 main UK AGM season, it is worth reflecting how far we have come with 50% of the country’s largest companies now signed up to use Proxymity’s platform. Many are returning this year for the second time, reflecting the real value issuers place in Proxymity’s service offering’.
Jonathan Smalley, Co-Founder and COO, Proxymity added “Hitting milestones like these are a cause for celebration and reflection, but they are also an opportunity to thank our partners and our amazing colleagues at Proxymity. Without their drive and enthusiasm to deliver our mission, we would not have achieved as much as we have. Working together as a team, we now have both momentum and ambitious plans to deliver much more in the future.”
Proxymity’s digital-native platform has been built on highly scalable technology which allows secure end to end connectivity between issuers, issuer agents, custodians, and investors, providing transparency to all participants in the proxy voting chain. In addition, Proxymity natively ensures strict compliance with latest regulations including the EU Shareholder Rights Directive (SRD II).