The corporate representative voting agency Locomotive noted on the 4th that it handled 10 proxy voting tasks during the regular shareholders' meeting period in March this year. Among the companies, there were listed companies such as Young Poong and SK Securities that had management disputes or shareholder proposals.
Locomotive received a total of 60 million shares of delegated voting rights this year. It secured voting rights for 18,000 shareholders out of a total of about 410,000 shareholders from the 10 companies. In particular, in the case of TPLEX, it successfully gathered shares amounting to 15.7% of the total issued shares, and it also achieved over 10% of voting rights secured for SK Securities.
According to the analysis of shareholder visits, the rate at which shareholder residence was confirmed through direct visits was 46.5%, showing a decrease of about 1.4% compared to 47.9% last year. Cases where face-to-face meetings were impossible due to board members and unidentified addresses accounted for 8.9%.
Locomotive emphasizes its strengths such as ▲ the ability to grasp real-time voting rights status based on its independently developed computer program ▲ having over 50 bases nationwide and more than 500 specialized personnel for securing voting rights ▲ and the over two decades of accumulated know-how.
Lee Tae-sung, CEO of Locomotive, emphasized, “As the number of cases of proxy voting battles with minority shareholder alliances has surged due to recent management disputes, securing voting rights for corporations, along with shareholder-friendly policies, is more urgent than ever,” adding, “It is important to maintain a communication channel with shareholders through corporate introductions (PR·IR) activities along with securing voting rights to enhance corporate and shareholder value.”