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We have answered a number of questions on Proxymity, how it works, its benefits and how to sign up. If your questions are not answered here please do contact your relationship manager or contact us.
Proxymity is the world’s first digital end-to-end proxy voting and shareholder disclosure platform that directly connects issuers and end investors in real time for a more efficient, more accurate and more transparent voting and investor communications process.
The current proxy voting process is lengthy and fragmented, causing delays, errors and often meaning a lack of transparency for institutional voters, who typically hold a high proportion of the share capital in many organisations. This results in most Institutional votes being sent to your registrar in a single instruction close to the deadline. Proxymity simplifies the voting chain connecting issuers more directly with their investors, resulting in several benefits to your company and your underlying shareholders. In addition, access to the Proxymity platform is completely cost free to our clients.
Proxymity uses a proprietary algorithm that reconciles against custody ledgers to allow institutional investors to vote through its platform that links directly with issuers and their agents – such as Link Group and their specialist proxy solicitation and shareholder intelligence businesses, D.F. King and Orient Capital. This not only improves communication and transparency, it saves issuer companies expensive research to decipher voting activity and intentions.
Companies have peace of mind and certainty with:
The main benefits of Proxymity are as follows:
There is no additional cost for offering Proxymity, it is offered to you, as a Link Group client, free of charge. Proxymity charges the custodian banks directly for processing instructions through its platform on behalf of underlying shareholders just as other proxy voting agents do today.
Proxymity is compliant with the latest EU Shareholders Rights Directive 2017 (SRD II) around voting, which takes the pain away from all issuers, namely by:
Providing you (as an issuer) complete the meeting notice on the required standard template and include the paragraph prescribed by Link Group in your meeting notification notes, Proxymity can have the meeting information visible to your underlying shareholders within 24 hours of providing the meeting information to us (as your agent / registrar), giving your shareholders a longer voting window (typically several working days than the current proxy voting mediums).
Proxymity was conceived and developed by two executives in Citibank’s ICG Custody group in London. With over 20 years combined industry experience in custody product development, the pair recognised an opportunity to reinvent the long established practice of proxy voting, to bring increased efficiency and transparency to the market and corporate governance process.
Yes, both D.F. King and Orient Capital (specialist Link Group teams supporting proxy solicitation and shareholder intelligence), are working in partnership with Proxymity.
In addition to their existing services, they will be offering an enhanced Vote Matching Report which combines, not only the data collected through Proxymity but additional CREST information, to show institutional underlying voters and their vote intentions on each resolution. The aim is to give you, in the run up to your AGM or GM, complete transparency of all voting at both investor and granular beneficial owner level.
There is an additional fee for this service. In order to find out more, please contact your Link relationship manager or our specialist teams ocl@orientcap.com / proxy@dkingltd.com