Russia: AO UniCredit Bank extends Proxy Voting Deadlines

AO UniCredit Bank
Summary: 
Starting from the 21 December 2015, AO UniCredit Bank (Russia) extends its deadlines for the proxy voting instructions in the general meetings (GMs) of the Russian issuers, making them closer to the market deadlines
Mon, 21/12/2015

 

AO UniCredit Bank (Russia) informs that with effect from 21 December 2015, the following proxy voting instruction deadlines (unless otherwise stipulated in the respective SLA with a client) will be valid:

  • 48 hours prior to the market deadline for e-proxy voting;
  • 3 working days prior to the proxy voting in GMs of the issuers located in Moscow;
  • 5 working days prior to the proxy voting in GMs of the issuers located outside of Moscow and equated cities when extended list of documents is required according to the terms of the offer. The following cities are equated with Moscow in terms of the deadlines (the list can be amended subject to the delivery conditions): Arkhangelsk, Astrakhan, Belgorod, Bryansk, Bryansk, Vladimir, Voronezh, Ekaterinburg, Kazan, Krasnodar, Kursk, Lipetsk, Nizhniy Novgorod, Omsk, Orel, Perm, Saint - Petersburg, Stavropol, Ufa, Chelyabinsk, Yaroslavl.

The e-proxy voting is obligatory for all CSD-eligible securities and is supported by many issuers in the Russian securities market.  

Starting from 1 January 2016, the CSD will charge fees for participation in a GM at the amount of 135 RUB (app. 2 USD) per lodgement of one voting instruction per issuer.

AO UniCredit Bank (Russia) has an access to CSD Web Cabinet (the CSD online tool that provides custodians with more convenient and reliable way of electronic voting in GMs on behalf of its clients).

 

Impact on Investors: The extended proxy voting deadlines will ensure later submissions of voting instructions for investors.