Proxymity Hits UK Issuer Milestone With 50% of FTSE 100
LONDON, September 13, 2022 (Newswire.com) - Proxymity, the leading digital investor communication platform, announced today that it has reached 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 five working days to make their governance decisions. In addition, issuers are benefiting from seeing voting intentions in real-time and more informed voting provides 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 28, 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 the latest regulations, including the EU Shareholder Rights Directive (SRD II).
About Proxymity
Proxymity connects the world's ecosystem of issuers, intermediaries, and investors digitally in real-time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world's largest financial institutions, it is the leading digital investor communications platform, serving over 25 markets worldwide.
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as "golden source" and provide institutional investors with the time they need to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations such as the Shareholder Rights Directive (SRD II).
Proxymity promotes enhanced environmental, social, and corporate governance (ESG) by improving communication between issuers and investors and making it easier for intermediaries to be efficient, timely and compliant when servicing their clients.
The company is backed by a global consortium of the industry's most influential financial institutions, representing seven of the world's top 10 Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street).
For more information, visit www.proxymity.io
Proxymity media contact: k.hamilton@proxymity.io
Source: Proxymity Ltd.
