KARACHI: Central Depository Company (CDC) of Pakistan has launched electronic voting service for shareholders of companies to elect directors in a paperless regime.
A statement issued on Tuesday said that over the years, CDC has dedicated its services in designing and executing innovative solutions to aid the process of digitization and further contribute to the transformation of the Pakistan capital market.
After the promulgation of Companies (Postal) Ballot Regulations, 2018, CDC Share Registrar service has launched an e-Voting facility which has recently been developed in house.
This will enable shareholders to cast their votes pertaining to company resolution(s) and elect directors electronically during general meetings.
This web based solution will allow shareholders to register and vote electronically without the hassle of submitting voting papers physically via courier dispatch.
This convenience will reduce the chances of errors and guarantee greater participation, allowing shareholders to exercise their rights in full.
Recently, the first e-Voting was successfully executed for Al-Abbas Sugar Mills Limited. Shareholders cast their votes successfully without any fear of information breach.
The digitized service was greatly appreciated by shareholders and the management unanimously.
CDC Share Registrar Services has become the number one Registrar/Transfer agent in the last ten years due to its state-of-the-art IT infrastructure while serving as a one-window solution for companies and their shareholders.