What Is a Proxy?
A proxy refers to an agent who has the legal permission to act and carry out decisions on your behalf. A proxy agent also makes it possible for you to vote at the annual shareholder meeting even when you aren’t present.
What Is Voting by Proxy?
If you’re a shareholder and cannot make it to an annual meeting, you can vote your shares by using a proxy. The proxy will then attend the meeting for you and cast your votes, in accordance to your wishes. While a shareholder proxy might be used, shareholders are strongly encouraged to be present for these meetings whenever possible. If you must resort to using a proxy, make sure the circumstances truly warrant it.
How Does It Work?
For a person to act as a proxy on your behalf, you will need to provide formal documentation that outlines the extent to which the proxy can make decisions for you. This way, abuses might be prevented while ensuring the proxy has enough legal power to carry out your wishes as dictated. However, for certain actions, you might need to provide a signed power of attorney. Consult with your lawyer to make sure everything is legal. Be careful about legal loopholes.
Why Allow Voting by Proxy?
This makes it possible for shareholders who can’t attend the meeting to be fully represented, along with their interests. Since these meetings can influence the direction and future of the company, shareholders have every right to have someone help protect their investments.
How Do You Choose a Shareholder Meeting & Proxy Services Provider?
It’s not easy to find the right shareholder meeting services provider. However, professional transfer agencies like Colonial Stock Transfer offer personalized services that includes expert guidance for public and private corporations looking to hold a successful annual or special meeting.
If you have an shareholder meeting that you would like to administer for your investors, then you will be in good hands with Colonial acting as your proxy voting services provider. With a team of trustworthy and credible professionals, we can provide the proxy meeting, online voting, notice and access, and mailing services you need to ensure the appropriate deadlines are met. Contact Colonial Stock Transfer at 801-355-5740 to learn more.