DCV Registros, a subsidiary of DCV, which managed 154 meetings during April 2014, with a positive balance of the shareholder meetings process. This figure represents an 11% increase relative to the same month last year. Between January-April of this year, the entity accumulated 168 boards managed, a 15% increase compared with the same period during 2013.

Claudio Garín, Operations and Services Manager, welcomed the upward trend in the number of the entity’s clients who have decided to hire shareholder meeting management services, both ordinary and extraordinary.

“We have seen a steady growth in the confidence of our DCV Registros´ clients to engage this service, which helps them in meeting regulatory responsibilities, as before the end of the quarter of each year, companies must call an extraordinary meeting,” he said.

The executive said that currently about 90% of the DCV Registros client base have engaged the service, which may also be requested by issuers that are not its clients.

Claudio Garín said that “April is the high period of board meetings, given the rules of Corporation Regulations. Over 70% of the April board meetings are held in the last 10 days of the month, and the 30th is the day with the highest concentration: this year 28 board meetings were held simultaneously managed by DCV Registros, which illustrates the efficiency and coordination of the service.”

The shareholder meeting management service performed by DCV Registros is available throughout the year and involves managing processes such as attendance records, tabulation, quorum calculation and, if necessary, conducting the voting process through ballots or acclamation. The Company’s work ends with the delivery of the report to the issuing companies so that their legal departments may prepare the respective board minutes to be sent to the Superintendencia de Valores y Seguros (SVS).

Investment in Technology

Claudio Garín also said that the upward trend is mainly due to investment in the development of specific software to perform this work which allows the deliver of the service on a large scale. “This is a service that DCV Registros may provide to any company for board meetings or similar events such as bondholder assemblies.”

Together with the improvements in technology, Garín mentioned that DCV Registros has a team of data entry staff, qualified technical staff and a supervisor on site so that the event may run in an excellent manner. “This investment allows us to provide security and peace of mind to our clients when managing an event that may be complex given the number of attendees, the calculation of powers of attorney or the management of a vote. Our software has all the elements that are needed from a regulatory perspective and results may be obtained in real time. Managing this process without technological support is risky and it has complex issues such as time delays that can affect the mood of those attending the meeting,” he said.

Regarding the next steps to be performed by DCV Registros within the framework of a process of continuous improvement of the services it delivers, Claudio Garín said that “we will analyze new features and attributes of the software in order to find areas in which we can make a contribution with this tool in relation to the Corporations Regulations.

In relation to the number of board meetings managed by DCV Registros each year, there has been a steady increase from 146 meetings in 2010 to 215 in 2013, which implies an increase of more than 50%.

Meetings in numbers

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