Conducting Electronic Shareholders Meetings Under Key

The Importance and Convenience of Electronic Shareholders Meetings in the Modern Business Environment

In the modern world, where speed and efficiency are becoming key components of success, electronic shareholders meetings are gaining increasing relevance. Thanks to this innovative technology, companies can gather shareholders for important meetings and make strategic decisions without being limited by geographical boundaries or complex circumstances caused by military actions in our country’s territory. In this context, electronic meetings become not only a convenient tool but also a strategic necessity for modern companies operating in a constantly changing environment.

Brief Overview of the Legislative Framework and Regulatory Requirements for Conducting Electronic Meetings

The main legislative document regulating the conduct of electronic meetings is the Law of Ukraine “On Joint Stock Companies.” In particular, the requirements related to electronic voting of shareholders came into force on January 1, 2024. During the period of martial law, electronic general meetings are allowed in accordance with the procedure approved by the decision of the National Securities and Stock Market Commission dated June 2, 2023.

According to the legislation, companies must provide shareholders with sufficient time and information about future meetings, including the date, time, place, and agenda, so that shareholders can prepare and participate in them.

During electronic shareholders meetings, it is necessary to ensure an effective system for registering participants, their identification, and confirmation of the right to vote to guarantee the legitimacy and transparency of the decision-making process.

Technological Aspects

There are several platforms for conducting electronic meetings in the Ukrainian market, such as:

• Ukrainian Depository Center. Offers the “Electronic Web Service for Shareholders Meetings” service, which allows conducting electronic meetings using a specialized web platform. It guarantees the security and confidentiality of voting, provides the opportunity for electronic document exchange, and archiving of materials.
• Kyiv Stock Exchange. Provides the “Electronic Shareholders Meetings” service for companies whose shares are traded on the exchange. It provides access to an electronic voting platform and information exchange. It has a reliable system for security and confidentiality of participant data.
• Share Market. Provides the service of conducting electronic shareholders meetings for various companies. It ensures the organization of meetings and voting in electronic format, taking into account requirements for document management and archival materials storage.

Currently, the depository center is working on developing the “Meetings Cabinet” service for remote voting, planning to launch it in early May.

To ensure the confidentiality and security of voting, the following measures are used:

• Data encryption to protect against unauthorized access.
• User authentication using two-factor authentication or unique accounts.
• Limiting access to the voting platform only to registered participants and ensuring control over their access rights.
• Recording and auditing all actions taken during voting to track possible violations and provide reporting on the process.
• Protecting infrastructure from external attacks and ensuring system security as a whole, including physical security measures for data.

All materials related to shareholders meetings, including notifications, agendas, meeting minutes, are stored for a certain period in the appropriate electronic or paper format. Shareholders, management bodies, and regulatory authorities have access to the archives.

The Role of a Lawyer in Conducting Electronic Shareholders Meetings

When organizing and conducting electronic shareholders meetings, a lawyer performs the following functions:

• Developing the procedure for conducting meetings and informing all participants about it;
• Preparation for meetings: drafting agendas, sending notifications, technical support;
• Registration of participants, reports, discussions, voting;
• Formalization of meeting results and their announcement;
• Registration of results and data storage.

Advantages of Dextra Law

Dextra Law employs qualified specialists with experience in corporate law and conducting electronic meetings. We provide a full range of legal services, including document preparation, consultations, shareholder rights protection, and conflict resolution. The company has a good reputation among clients and partners, which is confirmed by positive feedback and recommendations.

Contact us now and get qualified legal support for the successful implementation of corporate goals.