e-Proxies face little gains
The National Investor Relations Institute released its study on e-proxy use, detailing the reasons that 44% of polled companies planned NOT to use the e-proxy process in 2008.
Among the reasons given include:
- Awaiting lessons learned from 2008 adopters… 65%
- Not required to in 2008 under SEC rules… 36%
- Printed materials have value as marketing tools… 32%
- Concerned about logistics/coordination… 26%
- Concerned about timing/deadlines… 16%
- Concerned that lower shareholder participation will affect quorum… 15%
Interesting that several companies are concerned about lower shareholder participation. In the past, companies could have cared less if individual shareholders voted.
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