Tivoli successfully jump starts the new SRD II process for convening general meetings

On 3 September 2020, the SRD II rules relating to shareholders’ right to be informed about general meetings and other corporate events, as well as shareholders’ right to participate and vote, came into force.

From that date, issuers are required to transmit all relevant information about corporate events, including general meetings, to all end-investors, in order to ensure that the end-investors are proactively informed of company events. Going forward, end-investors will thus receive information about general meetings directly from their bank, instead of themselves having to check whether any general meeting announcements have been published.
Tivoli’s convening of its annual general meeting on 3 September marked the premiere of the new “regime”.

”We experienced that we had the opportunity to use 3 September to convene our annual general meeting and we decided that this would be an appropriate statement – and that it would be good to be the first company to convene a general meeting after the new rules came into force. At Tivoli, we appreciate the intentions behind SRD II and we have a long history of close relationships with our many shareholders. With SRD II, we gain better opportunities to get to know our shareholders and to reach out to all of them directly. From a practical perspective, the process was partly different for us compared to previous years. For example, we had to prepare the convening notice and proposals in English, in addition to the usual Danish version, for uploading to the VP platform used to forward the information to other intermediaries. In addition, the interaction between ourselves, our bank and VP was naturally also different, due to the changed processes. However, all of the parties involved were very keen for the premiere to succeed, and for Tivoli as a company everything went very well and without unnecessary hitches,” says Finn Tørngren Sørensen, head of communication at Tivoli.