Central Depository Company (CDC) has conducted a series of awareness sessions regarding recent amendments made to Companies (Postal Ballot) Regulations, according to a statement issued on Thursday.
CDC Share Registrar Services Limited (CDCSR), a wholly-owned subsidiary of Central Depository Company of Pakistan Limited, hosted these sessions at CDC’s offices in Karachi and Lahore with representatives of listed companies.
The Securities and Exchange Commission of Pakistan (SECP) recently amended the Companies (Postal Ballot) Regulations, 2018 to provide the right to vote through electronic voting facility to members of every listed company for all businesses classified as special business under the Companies Act 2017.
These amendments were introduced to add greater value to shareholders by facilitating their maximum participation through an accessible e-voting system from anywhere in the world, bringing greater ease and transparency to the election/polling process while reducing/eliminating paper-based work at the issuer(s) end.
CDCSR representatives led the sessions, which included a detailed presentation, system demo, and Q&A sessions. CDCSR has been providing e-voting services since 2018 and is fully capable of optimizing the challenges faced by capital market stakeholders due to the amendments.
The sessions were successful as the companies expressed their confidence and willingness to opt for the e-voting solution offered by CDCSR for their upcoming events. CDCSR has already extended its eVoting facility to leverage the shareholders of National Bank of Pakistan, Faysal Bank Limited, United Bank Limited, Askari Bank Limited, Allied Bank Limited, Sazgar Engineering Works Limited, Synthetic Products Limited, and others.
The awareness sessions were a significant step in educating market stakeholders on the amendments made to the Companies (Postal Ballot) Regulations. With the introduction of electronic voting, shareholders can participate more effectively in decision-making processes while reducing the potential for errors and ensuring transparency. This move by CDCSR highlights the company’s commitment to enhancing the Pakistani capital market’s transparency, efficiency and convenience.
