On 12 April 2018, the European Commission (EC) launched a consultation on minimum content requirements with regard to shareholder identification and the exercise of shareholder rights under the Shareholders Rights Directive (SRD). The SRD applies to EU companies traded on EU regulated markets.
The consultation paper includes a draft Shareholders Rights Directive II and annex (SRD II), which set out standardized formats and minimum content requirements for a wide range of documents, including:
- requests to disclose information on a shareholders' identity;
- notices of general meetings and other corporate notifications;
- confirmations of entitlement to exercise shareholder rights at a general meeting; and
- confirmations of the receipt and counting of votes.
It is hoped that the standardisation of formats and minimum content requirements will improve the efficiency and reliability of information sharing between issuers and shareholders across the EU.
The draft SRD II is available here:
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