More than half of FTSE 350 also onboard
Proxymity now firmly platform of choice in Square Mile ahead of upcoming voting season
LONDON, 16 February 2023 – Proxymity, the leading digital investor communication platform, has announced that its digital proxy voting platform is now utilised by 60% of FTSE 100 companies, a comprehensive milestone in revolutionising shareholder democracy. The digital proxy voting service connects issuers, intermediaries, and investors ensuring that investor communications are delivered in real-time and has now overtaken traditional proxy voting methods ahead of the upcoming 2023 proxy voting season.
Proxymity’s platform, servicing customers’ digital proxy voting and shareholder disclosure needs, is designed to improve communication between companies and their stakeholders. 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.
Today’s announcement represents an impressive 61% of the total market capitalisation of the UK’s top 100 companies who now benefit from an end-to-end digital connection that improves their shareholders’ voting experiences by facilitating instant distribution of meeting announcements. Backed by most major global custodian banks, 52% of the wider FTSE 350 are also using Proxymity – a clear indication of the growing popularity of the platform and its ability to provide real value to users.
With the 2023 UK voting season fast approaching, the large-scale adoption of Proxymity’s platform is playing a defining role at a time of transition in investor relations communications. The platform provides a centralised and secure platform for companies to communicate with their investors and other stakeholders, helping to streamline the voting process and ensure that all stakeholders have the information they need to make informed decisions.
By sharing announcements via Proxymity and allowing voting on the platform, investors are receiving governance information in real-time and are able to vote until the market deadline which equates to, on average, an extra 5 working days to make their governance decisions, with voters arriving with issuers more than 48 hours earlier. In addition, issuers are benefiting from seeing voting intentions in real time and more informed voting providing better governance for all.
Dean Little, Co-Founder and CEO, Proxymity, said:“We are excited to continue playing a key role in improving communication between companies and their stakeholders, helping to streamline the voting process in the 2023 UK voting season. The world of finance is rapidly evolving, and today’s announcement makes it clear that Proxymity is pioneering this technological and digital evolution.”
Jonathan Smalley, Co-Founder and COO, Proxymity added: “The fact that so many companies have chosen to use Proxymity is testament to the hard work of our team. We have built the platform to provide stability and excellent support to our customers and partners and to their clients. We look forward to continuing to connect more issuers for the benefit of everyone in the ecosystem.”
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