DCV Registros achieved a satisfactory assessment of the shareholders’ meeting management process, particularly relating to the peak meetings period occurring in April each year, expiration date of the legal period for stock corporations to perform this activity.

According to the figures, from a total of 165 meetings held in the month of April by DCV Registros’ clients, 145 were managed by this subsidiary of DCV, which represents 88%. Whereas in the period January-April this year, there were 184 meetings in total, out of which 159 were managed by DCV Registros.

When making an assessment of the process, Claudio Garín, Manager of Operations and Services, was satisfied with the results and the performance of the collaborators of DCV Registros both in the management of meetings and in the support to solve unexpected situations, when required.

“The evaluation of the process is very positive as the executive team responsible for managing these events has the experience to offer quality service and to handle contingencies that may arise during the event itself. This is a DCV Registros added value as we know the dynamics and structure of these events, so the executives are qualified to provide guidelines on how to deal with and solve specific situations”, he stated.

As an example, Garín explained that there are occasions where shareholders who wish to participate in a meeting are not authorized because their shares are with a broker that holds them in custody. This situation is solved through the issuance of a Certificate of Position for Meetings in order to provide a prompt and satisfactory solution and allow for their attendance.

In terms of technology, DCV Registros has a computer system specifically designed to support the complete cycle of these events (whether these be ordinary, extraordinary, shareholders’, bond bearer or even investment fund instalment issuers’ meetings) and which has been adapted according to the various requirements arising as the service is provided and which considers delivering the client the meeting attendance registry, quorum estimates, voting registry and corresponding estimates (whether by ballot or acclamation), registry closing and documentation required for reports to the regulator. The service also allows DCV Registros to request the delivery of the summons to shareholders if the client so desires.

The shareholders’ meeting management service is available for all issuers who request it, even if they are not clients of DCV Registros. “This year, events were organized for general meetings, sport clubs and stock corporations meetings that must comply with this legal formality, and which are not direct clients of DCV Registros”, highlighted the executive.

“DCV Registros has technological equipment, logistics and personnel to manage shareholders’ meetings throughout the country. This year, meetings were held in Puerto Montt, Concepción, Iquique, Viña del Mar, among others, as per the company’s legal address, which accounts for the team’s coordination,” he said.

Challenges

A particular matter, intrinsic to the shareholders’ meetings dynamics, is the concentration of these events in April, particularly the last week of the month, where this is concentrated with 50% of the meetings, which implies responding to the requirements of each case, with a peak of 25 meetings in one day.

“That matter challenges the capacity not only to have DCV Registros issuers assistant management team trained in understanding the logistics and the computer system in order to manage the processes, but also in the search to form other units of the company on this matter”, stated Garín.