Euroclear Sweden has launched a digital service allowing shareholders to digitally cast a postal vote prior to a General Meeting. The service launch coincides with a new Swedish law on temporary exceptions to facilitate General Meetings in companies and associations which came into force on 15 April 2020. The law allows limited companies to hold General Meetings with retained shareholder influence without the shareholders having to be physically present at the general meeting.
Euroclear Sweden said its new service allows shareholders to place their votes digitally ahead of the general meetings. Shareholders can use BankID verification on Euroclear Sweden’s website to send their postal vote to the general meeting removing the need to be physically present at the annual General Meeting in order to vote, according to a Euroclear statement.
“Swedish limited companies are actively working to protect their shareholders during the COVID-19 pandemic. By launching a digital voting service, we are enabling shareholders to actively participate in General Meetings without needing to be there in person,” says Michael Carty, CEO of Euroclear Sweden.
Euroclear Sweden has for several years provided solutions to support companies in their General Meetings and has lengthy experience in assisting limited companies in maintaining their registers of shareholders, as well as managing dividends and other corporate actions.
“Euroclear Sweden has worked with limited companies’ General Meetings for many years. We are pleased to be able to offer digital postal voting as a natural addition to our other General Meeting services,” says Torkel Edström, Head of Euroclear Sweden’s General Meeting Services.