Press release on shareholders general meetings of listed companies
As part of its core missions, which include the protection of savings and investor information, the AMF pays particular attention to the exercise by shareholders of their prerogatives concerning the general meetings of listed companies.
As the coronavirus (Covid-19) outbreak develops, and in the fight to prevent it from spreading, as well as in light of the order issued by the French Minister for Solidarity and Health of 4 March 2020, stating that public gatherings contribute to the rapid transmission of the virus, the AMF reminds shareholders of listed companies that they do not need to be physically present to vote at general meetings. Any shareholder may also submit written questions on subjects that fall within the scope of the general meeting in accordance with Article L. 225-108 of the French Commercial Code.
To encourage remote voting in this health crisis context, the AMF recommends that listed issuers broadcast their general meetings on their websites and use all channels to inform shareholders.
To vote remotely, shareholders may express their vote in several ways. They may, in particular:
- Vote by correspondence using a voting form. This vote may be made on paper or electronically (if the company’s articles of association allow the latter case). Issuers must take remote voting forms into account if they receive them at least three days before the date of the general meeting, except where the articles of association provide for a shorter period. Electronic voting forms may be sent to the issuer up to the day before the general meeting. They must be received latest by 3 pm.
- Give a proxy to a person of their choice or to the issuer without indicating a proxyholder (blank proxy).
In companies with shares traded on a regulated market, postal voting and proxy voting forms may be downloaded from the company’s website at the latest on the 21st day prior to the general meeting, except in cases where the issuer sends these forms to all its shareholders.
- Voting online via a secure voting platform, if the issuer’s articles of association allow this and if this voting procedure is provided for by the issuer concerned. Shareholders of companies whose shares are not admitted for trading on a regulated market may be required to attend the general meeting in this way, if the articles of association allow this.
The AMF invites shareholders who have any questions about these different voting procedures or about access to documentation on this matter to contact the investor relations departments of the issuers concerned.
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets. Visit our website https://www.amf-france.org
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02