Proxy Voting / VP Securities

Proxy Voting

Danish rules present a barrier, but the PoA is the key

Proxy voting rules are traditionally the reason why many foreign shareholders’ votes are not accepted at Danish AGMs; but powers of attorney can actually be set up in good time before the AGM.

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Most voting instructions are rejected because the power of attorney is either lacking or incomplete. The challenge is that most of the foreign shareholders have their shares registered to nominee accounts with their banks. The shareholders are therefore not listed directly in the company's shareholder register. This means that the shareholder has to document ownership and grant power of attorney to the party that is to exercise the voting instructions.

By starting early, companies, custody banks and advisors can help foreign investors make sure that their voting instructions will comply with the Danish rules.

VP INVESTOR SERVICES has prepared a general guide to the Danish regulations. 

Read the guide to non-Danish shareholders and their voting service providers.

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