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Proxy voting - abstentions

The drive for greater corporate governance has meant that institutional shareholders are increasingly being pressured to ‘vote’ the shares they hold by lodging a form of proxy and to report their voting record to beneficial investors.

Institutional investors may not always feel able to vote ‘for’ a resolution, but equally do not wish to vote ‘against’ the resolution and thereby alienate the existing management of the company or, perhaps, undermine the company’s share price.

This guidance note gives recommendations on the additional voting facilities for shareholders to give their appointed proxy.

An updated edition of this guidance note will be published towards the end of 2013.

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