TDCC Pioneers Platform for Shareholder Meetings with Video Conferencing as Assistance to Ensure Pandemic Prevention and Shareholder Rights
2021/08/06
As Taiwan lowered the COVID-19 alert level to level 2, the companies listed on the Taiwan Stock Exchange and Taipei Exchange (TWSE/TPEx-listed companies) also started to convene their shareholder meetings one after another recently. However, investors still show concern that the epidemic curve may rise again and have doubts about whether they will attend meetings. With this year’s policies of the Financial Supervisory Commission (FSC), the Taiwan Depository & Clearing Corporation (TDCC) has established a Platform for Shareholder Meetings with Video Conferencing as Assistance. Thus, investors can join meetings remotely and ease their worries!
According to TDCC President Han-Chiang Chu, the Platform for Shareholder Meetings with Video Conferencing as Assistance is a new system that is a first in Taiwan. As of the end of July, over ten issuing companies have applied to use the platform. Shareholders who have not conducted e-voting or signed a Power of Attorney (POA) can attend shareholder meetings using live video conferencing tools as long as they complete registration within the time frame from August 6 to four days before shareholder meetings. However, they will not be allowed to attend the physical meetings.
Investors can choose one of the three accesses to attend shareholder meetings via virtual communication methods. They can join meetings on their phones through the upgraded ePASSBOOK application (集保e手掌握) or securities trading applications that direct users to the Stockvote website. They can also choose to attend meetings on their computers by signing in Stockvote with their citizen digital certificates, Ministry of Economic Affairs Certificate Authority (MOEACA) certificates, Taiwan Fast Identity Online (TW FidO) service, or other verification mechanisms. Shareholders can register before shareholder meetings and attend one on the meeting day.
What do investors have to do to register for their online attendance? Select “Registration/Sign-up” under “Shareholder Meetings with Video Conferencing as Assistance”. For first-time visitors, they have to fill in an email sign-up form for verification. Then, tap “Registration” to choose the shareholder meetings that they wish to attend. The TDCC will thoughtfully send out email notifications with the shareholder meeting details two days before shareholder meetings, so investors do not have to worry about missing their sessions due to their busy schedules.
On the day of the shareholder meeting, shareholders who have registered beforehand can select “Check-in/Voting” under “Shareholder Meetings with Video Conferencing as Assistance” to “Check-in” their shareholder meeting session. The system will provide the live streaming routes and shareholders’ sign-in information (account, TDCC CN code) for users to log in, watch live streaming meetings, and send in written questions.
As for the crucial function, online voting, investors who have completed check-ins can return to Stockvote to select “Voting” and cast their votes for different proposals after the chair announces the commencement of the meeting. Investors can recast their votes during voting hours. After the closing time, companies will aggregate the voting results and make announcements on the live streaming platform simultaneously.
For companies, investors who attend shareholder meetings via the Platform for Shareholder Meetings with Video Conferencing as Assistance help reduce participants in their physical meetings and avoid the risk of cluster infection. For investors, they can protect their rights and fulfill shareholder activism. This is a win-win situation for companies and investors, and they are both contributing to curbing the pandemic.
- Platform for Shareholder Meetings with Video Conferencing as Assistance https://reurl.cc/ZGEZVp
- Customer Service Hotline 02-2514-1188