DCV implements the electronic voting service for shareholders meetings and assemblies of contributors

The service allows management of the voting process remotely through a platform by using blockchain technology, which provides security, confidence and traceability of information.

April 1st, 2020.- The Depósito Central de Valores (DCV), through its affiliate DCV Registros, informs that it has made available to the market the electronic voting service for shareholders and contributors. This mechanism allows the voting process to be managed remotely, through a platform that uses blockchain technology, which provides security, confidence and traceability of information.

The service will be available from Wednesday, April 1st, 2020 and can be contracted by issuers, with the aim of supporting the realization of shareholders meetings and assemblies of contributors, in relation to AGF and bondholders. Thus, they will be able to complete voting processes remotely or at distance.

The service was created in response to the recent publication of regulation No. 435 of the Commission for the Financial Market (CMF), which regulates remote participation and voting mechanisms for shareholders meetings, bondholders and assemblies of contributors; thus, facilitating the use of technological means, within the context of the expansion of Covid-19 (coronavirus), which was declared a global pandemic by the WHO.

"This new service that will be provided by DCV Registros, an affiliate of DCV, is a solid response to teh current needs and is part of the constant modernization process and adaptation to intenational good practices.
It represents a direct benefit for both issuer ans shareholders"

Javier Jara - Comercial Manager of DCV

According to the first participation report of shareholders meetings prepared by DCV, and pursuant to the IPSA companies that maintained their shareholder registries with DCV Registros, on average, the ordinary meetings of 2018 were attended by 47 shareholders or their representatives, which represents a participation rate of 6.4% (in relation to the total shareholders). While, in 2019, the average attendance of the meetings (administered by DCV Registros) was 37 people, which is equivalent to 2.8%.

"This new mechanism is a substantial contribution in the current scenario and given the low participation rate that we have observed in previous years, it will undoubtedly help to strengthen our financial system and facilitate the participation of its actors," added Javier Jara

Benefits of the remote voting service:

• It facilitates the participation of shareholders and contributors who are not physically at the location where their meetings are held by means of remote electronic voting mechanisms.
• It provides agile mechanisms that guarantee the registration and notice of meetings, in order to ensure the participation only of shareholders that have accredited their remote electronic voting mechanism.
• The right of attendance and to vote can be exercised from any place and under equal conditions. This is done through an electronic environment, thus, ensuring the secrecy of the vote at all times.
• It has auditable mechanisms from start to finish, throughout the electronic voting process, which guarantees that all votes are casted correctly and accounted for according to the relevant voting intention.
• It is a service based on blockchain technology. It has the support of the Santiago Stock Exchange, which is the distributor of the platform that will be used.ro de Noticias

News Center