On 21 May 2021, PAO Severstal (MOEX: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and mining companies, held its annual General Meeting of Shareholders (AGM) using the E-voting service operated by National Settlement Depository (NSD).
The AGM took place in the absentee voting format, with the shareholders being able to choose one of the voting methods to exercise their voting rights. The E-voting option was available from 1 May to 20 May 2021.
Vitaly Palabugin, Chief Legal Officer, Severstal Russian Steel Division, comments: “Improvement of the level of corporate governance is one of the key priorities for PAO Severstal. In line with the best practices in corporate governance, for the first time, we have provided our shareholders the option to vote at an AGM through the E-voting service. Such option is particularly important during the period when shareholder meetings take place remotely, which helps prevent the spread of COVID-19. The service helps reduce shareholders’ costs, make it possible for them to participate in a meeting remotely, wherever they are, and reduce the risk of mistakes during the voting process. The company will continue providing the most effective environment to enable our shareholders to exercise their rights to participate in shareholder meetings.”
Denis Buryakov, Managing Director for Depository Operations, NSD, comments: “E-voting is not only a corporate requirement that meets the global best practices; this is also what is expected of the issuer by its shareholders. We are pleased that for its annual General Meeting PAO Severstal makes use of NSD’s capabilities and the E-voting system we have been successfully working on and improving for some years now. Our system simplifies shareholders’ access to the voting from any part of the world, helping them exercise their rights and participate in corporate governance processes.”