Electronic voting (e-voting) is a new type of voting added to 2014 Enterprise Law and therefore, shareholders casting votes electronically are also considered to attend and vote personally at the Annual General Meeting (AGM). Based on this, VSD has developed and completed the E-voting system (V-Vote) in order to provide facility for issuers, public companies and shareholders. In the short term, VSD will focus on providing this service to public companies having shares registered at VSD and fund management companies authorizing VSD to provide transfer agency service for their open-ended funds.
For issuers, using e-voting service provided by VSD boosts the success of AGM as the number of shareholders attending AGM will increase, helping issuers organize more well-prepared AGM as they can be continuously updated of the number of e-vote casting shareholders before the meeting, and thus better estimate the number of shareholders personally attending. In addition, using VSD’s V-vote helps issuers have more rapid, accurate and objective voting results as the result summarization is done by VSD as an intermediary, and this also saves paper, management costs and improve the position of issuers, especially from corporate governance viewpoint.
For shareholders, the e-voting service is more convenient for them to participate in AGM as they can exercise their voting rights without being present at AGM, besides, they can save travelling costs, especially those who are minor shareholders or live far from meeting venue. Shareholders can cast their votes electronically anywhere having internet access by using computers or accessible devices. In addition, the voting time is flexible, so shareholders can vote any time during the voting period. Moreover, using V-vote system is simple while providing highly truthful and secured results.
Procedures and dossiers related to the e-voting service are specified in the Guideline on providing e- voting service of VSD issued together with Decision No. 98/ QĐ- VSD dated March 23, 2017 of the Chief Executive Officer of VSD.