Shareholder voting is one of the pillars of effective corporate governance. It is the single most important legal mechanism for shareholder control over investee companies, their boards and management. The voting rights attached to shares give shareholders influence over matters that can affect company performance, stock price, and shareholder value.

This study assesses the voting process in 18 European markets in order to determine the average amount of time available to institutional investors to make informed voting decisions.

Key issues covered:
>> Major impediments to the voting process in Europe;
>> Contrasting statutory requirements and best practice provisions in each European market with the practices of issuers incorporated in that market;
>> Identifying the problems associated with the use of the chain of intermediaries as the predominant model for cross-border voting in Europe;
>> Comparing voting deadlines set by issuers/tabulators in each European market with vote cut-off dates set by intermediaries in the chain; and
>> Identifying the underlying causes of existing vote cut-off dates for institutional investors, and establishing what factors influence the setting of an ultimate cut-off date.

Proposals to discharge directors of liabilities routinely appear on shareholder meeting agendas in many European markets. But what do they mean? What are the implications for shareholders. This report takes an in-depth look at 13 markets to highlight the key issues for concerned investors.

Published: June 2008, 48 pp, 487KB

Manifest reviews 20 European indices to give readers the clearest possible view of governance trends at shareholder sentiment.

Why you should buy this report

* Save time carrying out detailed and complex research
* Spot emerging trends and developments
* Inform your investment and governance decisions
* Add weight to presentations and policy documents

What’s covered

* Governance Issues & Trends
* Number of Events
* Distribution of Events
* Meeting Results Disclosure
* Meeting Turnout Levels & Distribution
* Shareholder Resolutions
* Dissent Levels (Against and positive Abstain/Votes Withheld)
* Highly Contested Management Proposals
* Defeated Resolutions
* Year on year changes

The Manifest Voting Review is the most detailed and authoritative analysis of its kind and offers invaluable insights into shareholder engagement.

Manifest reviews the voting results from the Nordic Region markets:
OMXC20 (Denmark) | OMXH25 (Finland) | OBX25 (Norway) | OMXS30 (Sweden)

Manifest reviews the voting results from seven major Northern European markets:
AEX 25 (Netherlands) | ATX (Austria) | BEL 20 (Belgium) | CAC 40 (France) | DAX 30 (Germany) | ISEQ 20 (Ireland) | SMI (Switzerland)